One of the stocks to have come into major focus among investors this past Friday was that of Star Alliance International Corp (OTCMKTS:STAL) and it ended the day with gains of as much as 23%.
Trading Data
On Friday, STAL stock soared by 23% to $1.90 with more than 162K shares, compared to its average volume of 17Kshares. The stock has moved within a range of $1.5500 – 2.3000 after opening trade at $1.70.
Star Alliance International Corp. Signs Definitive Agreement to Acquire 51% Of the Honduran Gold Mining Company
The stock surged on Friday after it emerged that Star Alliance had managed to sign definitive agreements in relation to the acquisition of a 51% stake in the company CompaniaMineraMetalurgica Centro Americana S.A. The announcement was a significant one considering the operations of the target company and the rally in the stock was perhaps not entirely surprising.
In this context, it is necessary to note that CompaniaMineraMetalurgica Centro Americana operates and owns as many as 5 gold mines which are all located in Honduras. Star International is all set to gain control of the company on January 1 next year and it goes without saying that it marks a major development.
It was noted that all the gold mines are in active production at this point and Star Alliance added that it will also make investments so as to boost production further. Last but not the least, the company’s Genesis ore extraction procedure is also going to be deployed at the mines.
Technical Data
STAL stock is trading in the neutral zone with RSI at 56. The stock has pivot supports at 0.7833, 1.1667, 1.5333 and resistances 2.2833, 2.6667, 3.0333. The stock is down 12% in the past month.
