It has been quite a difficult period for investors in Max Resource Corp (OTCMKTS:MXROF) over the course of the past month considering the fact that the company’s stock has declined by as much as 10% during the period. In light of the decline, it might be a good time for investors to figure out if the decline could in fact be an opportunity to get into the Max Resource stock at this point in time.
Market Action
As of 10:36 AM, MXROF stock moved up 13.30% to $0.1641 with 4.5k shares, compared to its average volume of 49K shares. The stock has moved within a range of $0.1516 – 0.1641 after opening trade at $0.1516.
Max Resource Provides 2021 Highlights and Milestones for 2022 for its CESAR Copper-Silver Project in Colombia
This morning the company came into focus after it provided a review of the some of the major milestones that Max Resource had managed to achieve in 2021.
In addition to that, Max Resource also provided an update with regards to the exploration strategy of its fully owned CESAR copper silver project for 2022. One of the major highlights for this year for Max Resource was the discovery of two zones, CONEJO and URU.
More importantly, both those zones proved to be of significant size when it came to the copper and silver results. In 2022, the company is going to be focussed on its exploration activities in the URU zone. However, it will also be interesting to see if the Max Resource stock can reverse the downward trend or not.
Key Quote
“Max commends our in-country field team for the ground-breaking discoveries of a series of high-grade copper-silver zones in 2021. Our success was a direct result of the Max exploration team’s hard work and targeted exploration programs throughout the previously unrecognized copper-silver belt,” commented Max CEO, Brett Matich.
Traders Note
MXROF stock is trading below the 20-Day and 50-Day Moving averages of $0.16 and $0.16. Moreover, the stock is trading is the neutral zone with RSI stands at 53. The stock is up 6% over the past month.
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