Stocks which trade in a range can often break out strongly as well and hence, it may be a good move for investors to keep an eye on those stocks. One such stock that was trading in a range yesterday was the Delta Resources Limited (OTCMKTS:DTARF) stock.
Market Action
On Wednesday, DTARF stock ended flat at $0.2036 with 3.5k shares traded, compared to its average volume of 3.56K shares. The stock has moved within a range of $ 0.2036 – 0.2036 after opening trade at $0.2036.
Announces Final Closing of Oversubscribed Private Placement in the Total Amount of $3,564,450
However, in this context, it ought to be noted that the company was in the news as well after it had made a key announcement. The company announced yesterday that it had been successful in completing a private placement of a non-brokered nature. The announcement with regards to the private placement had been made back on November 1 and November 29 this year.
It goes without saying that it was a significant development for Delta Resources but it did not lead to much movement in its stock one way or another. It should be noted that the completion of the private placement is going to be contingent on TSX Exchange approval. Yesterday, the company completed the second and final tranche of its private placement. It managed to raise as much as $200999.90 in this round of private placement and in the first round it had managed to raise a total of $3,363,490.
 Stock Continues to Trade in a Narrow Range){kind=link}