The past week has not been kind to investors in the Rise Gold Corp (OTCMKTS:RYES) as the company’s stock suffered from a selloff and went down by as much as 7% as a consequence.
Trading Data
On Tuesday, RYES stock ended flat at $0.58 with 22K shares, compared to its average volume of 29K shares. The stock moved within a range of $0.5801 – 0.6402 after opening trade at $0.59.
Rise Gold : Reports Progress on Idaho-Maryland Use Permit – Form 8-K
In this context, it is perhaps also necessary to keep in mind that the company was in fact in the news yesterday after it announced the completion of the comment period in relation to the Draft Environmental Impact Report regarding the Idaho-Maryland Mine Project. It was a major new announcement from the company but it had an adverse effect on the stock.
The report had originally been released by Nevada County back on January 4 this year. The release of the report had originally been considered to be a significant milestone for Rise Gold since it was being seen as an important step prior to eventually getting awarded the Use Permit Application for the Idaho-Maryland Gold Mine.
At this point in time, it could be a good idea for investors to keep an eye on the developments in the coming days before coming to the decision about the stock. It remains to be seen if the Rise Gold stock can make a recovery today.
Technical Data
RYES stock is trading below the 20-Day and 50-Day Moving averages of $0.59 and $0.60 respectively. However, the stock is trading above the 200-Day moving average of $0.46.
