Although the company made a major announcement last week, the American Resources Corp (NASDAQ:AREC) stock has not performed well and has actually tanked by 9% over the past week.
Last week the company announced that in collaboration with Purdue University, American Resources Corporation managed to achieve purity of as much as 99.5% in Neodymium, a rare earth element. The company sourced the rare earth element from waste magnets.
It was a significant announcement from the company considering the fact that the purity level of the element suggests that it could be used to make permanent magnets. Back in May the company had also announced its financial results for the first fiscal quarter. In the quarter, American Resources managed to generate net income of $6.4 million, which worked out to earnings per share of $0.14. That is a major turnaround for the company from the prior year period in which it clocked losses of $3.4 million.
Moving Averages
| +/- EMA(20) | 2.89 (-5.19%) |
| +/- SMA(50) | 3.07 (-10.75%) |
| +/- SMA(200) | 2.74 (+0.00%) |
| Technical Indicators | |||||
| Symbol | Value | Result | Symbol | Value | Result |
| ADX | 27.6660 | Sell | ATR14 | 0.3267 | |
| CCI20 | -27.0995 | Neutral | Chaikin Money Flow | -0.3975 | Sell |
| MACD | -0.0747 | Sell | Money Flow Index | 71.6898 | Buy |
| ROC | 2.5830 | Buy | RSI | 45.7033 | Sell |
| STOCH (14,3) | 10.5590 | OverSold | STOCH RSI | 0.0000 | OverSold |
| UO | 34.1469 | Sell | Williams %R | -89.4410 | OverSold |
 Stock Is Under Pressure: Is A Bounce Coming?){kind=link}