A stock may trade in a range but if there is news with regards to the company then it could be a good move to look into it nonetheless. After all, the stock may breakout into a rally eventually. That was the case with the Gold Standard Ventures Corp (NYSEAMERICAN:GSV) stock on Tuesday.
Trading Data
On Monday, GSV stock gained 2.35% at $0.4332 with more than 646K shares, compared to its average volume of 656k shares. The stock has moved within a range of $0.4230 – 0.4411 after opening trade at $0.4230.
Gold Standard Continues to Expand and Define Pinion SB Zone
Although it traded within a range, the company did make a major announcement which investors could do well to look into. The company announced yesterday that the drill results from as many as eight reverse circulation drill holes located at the Pinion SB Zone and the results had proven to be positive.
The drilling activities were part of the 2021 Exploration and Development Program that had been devised by Gold Standard Ventures.
The fact that the results were positive was a significant development for the company and it is going to be interesting to see if the stock can manage to make an upward move over the course of the coming days. At this point in time, investors could consider adding the Gold Standard Ventures stock to their watch lists despite the fact that the stock traded within a range yesterday.
Key Quote
Jason Attew, President and CEO, commented, “We are very encouraged by the 2021 drilling results at the SB Zone. We are intersecting mineralization closer to surface than previously estimated and the target remains open to the south and east. We look forward to continuing to explore this target in 2022 with the goal of adding to the existing Pinion mineral resource by year-end.”
Technical Data
GSV stock is trading below the 20-Day and 50-Day Moving averages of $0.44 and $0.45 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.51.
