The past week has been a good time for investors in FAR Resources Ltd (OTCMKTS:FRRSF) as the company’s stock recorded significant gains. This past Friday, the stock continued to be in focus among investors and ended the day with gains of 13%.
Trading Data
On Friday, FRRSF stock gained 13.10% to $0.2262 with more than 232k shares, compared to its average volume of 181k shares. The stock has moved within a range of $0.1990 – 0.2299 after opening trade at $0.20.
FAR Resources Letter to Shareholders
The rally on the day took the gains made by the FAR Resources stock to as much as 32% for the week. In such a situation, it may be a good idea for investors to consider the fact that back on December 30, 2021 the company published a letter from is Chief Executive Officer and President Scott Taylor.
In the letter, Taylor stated that in order to build up confidence in FAR Resources among investors and in the wider markets, the company decided to implement a set of measures. He also thanked the shareholders for having voted in favour of some of the changes that FAR Resources is going to implement.
In addition to that, Taylor also noted that everyone at the company was looking forward to working hard towards ‘earning the confidence’ of the shareholders and taking FAR Resources forward in 2022. It may be a good time to add the stock to your watch lists.
Technical Data
FRRSF stock is above the 20-Day and 50-Day Moving averages of $0.19 and $0.17 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.13. The stock is up 15% in the past month.
