When a stock continues to fall for around a week, it is a good time for investors to take a closer look at the situation and figure out if there is going to be any kind of a turnaround.
Trading Data
On Thursday, WGMCF stock ended lower by 3.38% to $0.0314 with more than 330K shares, compared to its average volume of 340K shares. The stock has moved within a range of $0.0279 – 0.0352 after opening trade at $0.0310.
Winston Gold Announces Director Changes
For instance, the Winston Gold Corp (OTCMKTS:WGMCF) stock continued to be in the middle of a selloff yesterday and ended the day with a decline of 3%. That took the decline recorded by the stock over the course of the past week to as much as 16%. Amidst all this, it is also necessary to note that yesterday Winston Gold Corp was in the news as well after it announced that it had appointed Brent Omland to its board of directors.
It was a major announcement from the company and considering the fact that the stock fell yesterday, it can be said that the investors did not react kindly to the appointment. In addition to that, it is necessary to bear in mind that the company can only have 5 directors in its board and hence, Stan Stewin had to resign from the board in order to keep the number the same.
Technical Data
WGMCF stock is trading below the 20-Day and 50-Day Moving averages of $0.0359 and $0.0383 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0617.
