This past Friday the HPQ Silicon Resources Inc (OTCMKTS:HPQFF) stock was trading in the middle of a range this past Friday although the company had in fact made a key announcement the day before. Stocks trading within a range can often break out as well and hence, it could be a stock to watch this week.
Market Action:
On Friday, HPQFF stock fell 0.06% at $0.5331 with more than 90.25K shares, compared to its average volume of 64.42K shares. The stock has moved within a range of $0.5330 – 0.5601 after opening the trade at $0.5600.
Major News
The silicon solutions and technology developer announced that after a slew of delays the company finally delivered the power supply, the last component, to PyroGenesis Canada Inc. The missing component was delivered by HPQ Silicon Resources to PyroGenesis’ plant located in Montreal.
It was a significant development for HPQ Silicon Resources since it marked the completion of a delivery. In this context, it is perhaps also necessary for investors to keep in mind that the silicon market could also be on the verge of considerable growth in the near future.
Market events in recent times suggest that silicon could well be one of the major strategic metals in the future. Hence, that has placed HPQ Silicon Resources at a potentially powerful position. However, it also necessary to keep an eye on the stock and upcoming developments before making any move.
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