Anyone who has been keeping an eye on the copper sector must have noticed that over the course of the past week, the Kutcho Copper Corp (OTCMKTS:KCCFF) stock has been in the middle of a strong selloff.
Market Action
On Wednesday, KCCFF stock ended higher by 1.28% to $0.6077 with 32K shares, compared to its average volume of 56k shares. The stock has moved within a range of $0.5962 – 0.6089 after opening trade at $0.6089.
Kutcho Copper Announces Filing of Feasibility Study
During the period, the stock has declined by as much as 8% and it is now going to be interesting to see if it can make a recovery any time soon. In this context, it is also important to keep in mind that on Wednesday the company made a key announcement and investors could do well to take a look.
Yesterday, the company announced that it had submitted a technical report with title “NI 43-101 Feasibility Study Technical Report for the Kutcho Copper Project, British Columbia, Canada”.
The report in question is related to the potential development of the Kutcho Copper zinc and copper project, which is located in the Northern region of British Columbia. It should be noted in this regard that the property in question is owned in its entirety by Kutcho Copper. Although the stock has declined sharply in the past week, it could still be a good idea for investors to keep an eye on the developments on this front.
Traders Note
KCCFF stock is trading below the 20-Day and 50-Day Moving averages of $0.69 and $0.75. Moreover, the stock is trading is the oversold zone with RSI stands at 35. The stock is down 20% over the past month.
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