Fellow Investor,
USA Graphite (USGT) shares rallied in moderate volume during afternoon trading on Thursday, closing at $0.80, the high of the day, on a late surge of buying.
Profit-taking pushed shares lower right at the open but determined buying by investors soon exhausted the selling and the share price bounced back by mid-morning. Trading was relatively quiet for much of the day but there is a clear, firm undertone of buying demand from investors convinced of USGT's promising future. A late surge of buying pushed the share price up to the high of the day right at the close—a very bullish indicator for tomorrow's open.
The share price is well-supported on the daily chart by the 7-day simple moving average ($0.7519) and by the rising trend line that formed the bottom of the wedge pattern that formed just before Christmas.
Today's close at $0.80 was a new closing high for USGT which, in combination with the close at the high of the day, should bring the momentum players back into the shares tomorrow. You may have missed your chance to get into USGT below $0.80. Don't miss your opportunity to buy USGT below $1.00.
Graphite and its derivative material graphene are expected to be the building blocks of the 21st century. Graphite is already used in lithium-ion rechargeable batteries. Graphene, which is a sheet of graphite only one atom thick, is expected to have a wide range of uses.
Have a look at this BBC video to see what the future holds for graphite and graphene:
http://news.bbc.co.uk/2/hi/programmes/click_online/9491789.stm
Demand for graphite is expected to rise, powered by the applications outlined in the video above. Don't regret that you didn't take your chance to buy America's only domestic source of natural, flake graphite, USGT.
Disclaimer: http://lookpic.com/O/i2/1255/AgVn8eq.jpeg
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