On Monday, the Firma Holdings Corporation (OTCMKTS:FRMA) was trading within a range but that does not mean that the stock is one to be ignored. As it happens, the company was in fact in the news yesterday after it made a major announcement with regards to the establishment of Saddle Creek Resources Corp.
Trading Data
On Monday, FRMA stock fell 2.44 to $0.0200 with more than 149K shares, compared to its average volume of 88K shares. The stock moved within a range of $0.0200 – 0.0228 after opening trading at $0.0228.
More importantly, it was announced that the management of Firma Holdings was not looking into the possibility a project related to gold or silver based precious metals which had the prerequisites to start producing in the near term. In addition to possibility of producing quickly, the project should also be able to provide an upside with regards to resource expansion.
In this context, it ought to be noted that the establishment of Saddle Creek is an important project for the company considering the fact that Firma Holdings has traditionally been only involved in renewable resources. The company is mainly involved in using its renewable resources for the purpose of getting into partnerships with some of the biggest national level utility based project developers. It may be a good time now for investors to consider adding the stock to their watch lists.
Technical Data
FRMA stock is trading below the 20-Day and 50-Day Moving averages of $0.0280 and $0.0335 respectively. Moreover, the stock is trading below the 50-Day moving average of $0.0473.
