Good morning traders,
I have been getting a ton of questions lately about NSRS and is this North Springs Resources Inc penny stock still worth trading at these levels or is the NSRS pump and dump just about over? So here is my take on this trade at the moment.
If you remember correctly the firm who started this promotion was hired for a full month of market awareness and I believe that was back in early to mid January. If the program was 30 day for NSRS then that would put a stop to the cash flow right around February 15th or so. Looking back at the chart NSRS was around $1.70 at this time and has since fallen to a low of $.30 before showing another bounce (probably a combo of one last pump combined with short sellers covering their 50% gains) to $.80 level before settling back here in the $.45 to $.55 levels.
Technically speaking NSRS could be a decent trade if we bounce off the $.30 to $.35 level once again for a quick scalp trade back to $.55 or $.60 areas which is where the stock failed to break over three out of the last four trading days.
Now it is wise to at least take notice that Tuesday afternoon NSRS posted news saying North Springs Resources is pleased to announce that today it will fund the remaining $200,000 for the phase one exploration budget at the Company’s Imperial Gold Silver Property in Nevada. This could give us a small jump in price early this morning but again, I expect the stock to pull back to the $.30 levels shortly after any small run.
So if you are a “trader” then be watching NSRS early this morning for any potential scalp opportunities but if you are a “investor” then my personal opinion would be to stay away from a stock that is making lower highs and lower lows. This is a sign of a true downtrend.
Trade well and for more hot penny stock updates I recommend you checking out my Premium level newsletter which not only gives members action ready penny stock and small cap stock alerts but also teaches you exactly what and why I do what I do so you can flourish in this very lucrative penny stock market. As a matter of fact members who have followed me have already posted well over $400,000 in member only profits according to a verified third party.
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Post Written By: Super Nova
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