RVBR Stock Cools Off
Shares of Markray Corp. (RVBR.PK) opened flat on Thursday with no follow through from yesterday’s record volume. On Wednesday, RVBR announced it’s intentions of moving forward with an audit of it’s gold reserves based on higher yield per ton numbers.
Now while RVBR‘s latest PR might seem ruffly considering they also claim to be in the rare earth space as well. Speculative gold stocks are still on the top of many penny stocks investors lists. We have stated many times, that money can be made in pink sheets and sub penny stocks as long as they are purely viewed as trading vehicles.
Now if Gold prices spike again, or a rare earth stock like Molycorp (MCP:NYSE) catches a bid for a week or two, then a rising boat could lift all tides, and RVBR could be in play.
As of now, the recent volume has been considerably higher, RVBR traded over 430k shares yesterday. And the average 10 day volume in the shares are slightly over 101k, which is up sharply from it’s average 3 month volume of 19,982.
RVBR Trading Heavy Volume
Technically speaking, RVBR does seem to have some short term support in the .5 cent range, but the stock couldn’t break it’s resistance level of 8.5 cents yesterday. A decent trading channel might be developing, but the lack of liquidity in RVBR could keep penny stock scalpers on the sidelines.
So for now, keep and eye on the news flow out of RVBR and add it to your penny stock list. As you may already know, you usually don’t buy pink sheets stocks for the balance sheets or cash flows. Penny stocks still remain news and event driven.
Just remember that there are very few publicly traded REE stocks, so a major move in the group could cause a few eyeballs to take a peek at RVBR and other rare earth penny stock names.
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