USGT Opens Strong in Post-Holiday Trading
USA Graphite (USGT) opened at a new high this morning on big volume as investors decided to take advantage of the breakout from the wedge pattern on the daily chart that took place on Monday. Volume is very heavy in the first hour of trading with well over 500,000 shares changing hands.
After an initial wave of buying, the shares have come off of their highs but remain solidly above the breakout level. There is still a lot of buying between $0.68 and $0.69. It won't take much for USGT to rally to new highs.
Investors should take advantage of any temporary weakness to get into USGT while they still can. The shares have solid support in the $0.68 to $0.69 range on the intraday chart. IF you act fast, you might still be able to buy some shares for less than $0.70.
The company released an exploration report for its Blue Wing Mountains graphite property in Nevada last Friday that as gotten investors very excited. Exploration activity will commence next month and there should be a steady stream of positive news in the coming quarter as the exploration process advances.
USGT's chart looks great, the fundamentals are in place. Don't miss this last opportunity to get some USGT shares below $0.70.
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