As investors get back to their trading desks in 2022 they are again going to be looking for stocks which might have recorded strong gains not too long ago. In that situation, it is quite likely that the Sun Summit Minerals Corp (OTCMKTS:SMREF) stock is going to be one of the stocks in focus.
Trading Data
On Friday, SMREF stock gained 15.65% to $0.5262 with more than 100k shares, compared to its average volume of 17K shares. The stock has moved within a range of $0.4903 – 0.5308 after opening trade at $0.5050.
Recent News
The stock had come on to the radars of investors last Friday and managed to clock gains of as much as 16% as a consequence. Despite the gains made by the stock it should not be ignored that there was no material news about Sun Summit Minerals on Friday.
As a matter of fact, the last time the company was in the news was back on November 30, 2021 when Sun Summit Minerals provided an update with regards to its exploration drilling initiative at the Buck Property. The company owns the property, located in the north central region of Columbia, in its entirety.
The company announced that it had been successful in completing as many as 32 drill holes with a combined depth of as much as 10,000 metres. At this point, it may be a good move by investors to keep an eye on the stock.
Technical Data
SMREF stock is above the 20-Day and 50-Day Moving averages of $0.3662 and $0.3928 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.5055. The stock is up 32% in the past month.
