While it is true that the CAT Strategic Metals Corporation (OTCMKTS:CATTF) (CSE:CAT) stock was trading in a range on Wednesday, it is also important to keep in mind that the company was actually in the news yesterday. In such a scenario, it may be a good move to take a look into the news and then figure out if there could be any movement in the stock.
Market Action
On Wednesday, CATTF stock ended flat at $0.0351 with 100 shares, compared to its average volume of 24k shares. The stock moved within a range of $0.0351 – 0.0351 after opening trade at $0.0351.
CAT Strategic Metals Announces Plan for Exploration
Yesterday, CAT Strategic Metals Corporation provided additional details with regards to its exploration activities at the South Preston uranium exploration unit. The property in question is located not too far away from the margin of the Athabasca Basin’s south western margins.
It was also highlighted that the property holds in excess of 102 Mlbs worth of U308 and it goes without saying that it could be a major haul for CAT Strategic Metals Corporation. The update provided by CAT Strategic Metals Corporation was an important one and one that could lead to a certain degree of optimism among investors as well. However, there was no such thing on show on Wednesday and the stock continued to trade within a range. It may be a good idea to keep the stock in your watch lists at this point.
Traders Note
CATTF stock is trading above the 10-Day and 20-Day Moving averages of $0.0348 and $0.0330. Moreover, the stock is trading is the neutral zone with RSI stands at 52.
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