Only two trading sessions after the released by the company comments on the trading of Copper Fox Metals Inc. (CVE:CUU) stock, a new speculative 23.08% jump of the share price maybe made some investors unhappy for not holding CUU stock yet.
On the background of almost two months without any news, CUU soars as if some first cooper or diamonds yields were reported.
During yesterday’s session, CUU entered again the range of its 52-week high, closing at $0.80 per share. The most impressive part of the session were the number of bids and the doubled average volume traded.
In the middle of this July, the company filed to SEDAR that for the trade register it “continues from Alberta to British Columbia”. This was also the time when the amended preliminary feasibility study on the “giant porphyry Copper, Gold, Molybdenum, Silver project at Schaft Creek British Columbia” was filed.
Since the end of July, when the last update on that project was released, there is no news or significant SEDAR filings from the company. Further more, the completion of the Feasibility Study on the project at Schaft Creek British Columbia is expected not earlier than the end of this year.
Nevertheless, since the date of the last press release from two months ago, CUU surged 171%. At that time, CUU closed at $0.295 per share in a weak volume of less than half a million shares changing hands.[BANNER]
As it usually happens when speculative trading rules hold, some investors are initially unhappy that they still do not have any CUU shares. But maybe they will sigh with relief after the subsequent rapid speculative plunging down of the share price occurs.
For other investors, CUU was a good opportunity for gains these days and the gains have probably been already banked.
CUU financials convince that it is worth to hold CUU, since the company has a good structured balance sheet. It is anyway good to remind that these days CUU stock was almost constantly overbought. This does not necessarily mean the upward direction will be changed on the long-term, but could be a signal for a short-term break-up.
