Anyone who has tracked the Usha Resources Ltd (OTCMKTS:USHAF) stock over the course of the past weeks may have noticed that the stock has gone through a fairly tough period. It has suffered from a strong selloff and declined by as much as 15% in the past month.
Market Action
On Tuesday, USHAF stock ended flat at $0.24 with 16k shares traded, compared to its average volume of 8.7k shares. The stock has moved within a range of $0.2400 – 0.2400 after opening trade at $0.24.
Usha Resources Engages Investing News Network
Although the stock has performed poorly, the company was actually made a significant announcement yesterday and those hoping for a recover could consider looking into it. The company announced yesterday that it had inked an investor awareness and advertising campaign agreement with the company Dig Media Inc.
Dig Media, which is also known as Investing News Network, is a privately owned company and is based out of Vancouver in Canada. This deal could turn out to be a major game changer for the company considering the fact that Dig Media is going to be responsible for promoting Usha Resources active investors. Such a move could lead to far more awareness about the company’s stock and could potentially attract legions of new investors.
Hence, it might be a good idea for investors to consider keeping an eye on this stock over the course of the coming days and see if there is any upward move.
Key Quote
“We are very pleased to be working with INN to expand our audience,” stated Deepak Varshney, P.Geo., CEO of the Company. “With their experience in the mining industry and our portfolio of nickel, copper, and gold assets, we are confident that they will be able to help increase awareness of Usha Resources as we move forward into a very exciting year ahead.”
Traders Note
USHAF stock is trading below the 20-Day and 50-Day Moving averages of $0.2459 and $0.2677. Moreover, the stock is trading is the neutral zone with RSI stands at 44.
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