Class 1 Nickel and Technologies Ltd (OTCMKTS:NICLF) (CSE:NICO) Stock Jumps After As Company Commences Geophysical Work

Those who are currently looking into those stocks which made a big move on Wednesday might have come across the rally that was seen in the Class 1 Nickel and Technologies Ltd (OTCMKTS:NICLF) (CSE:NICO) stock. The stock was in a roll yesterday and ended the day with gains of much as 19% amidst heavy interest.

Market Action

On Wednesday, NICLF stock surged 19% to $0.2149 with 250 shares, compared to its average volume of 3.1k shares. The stock moved within a range of $0.2149 – 0.2149 after opening trade at $0.2149.

Class 1 Nickel Commences Geophysical work program at the Somanike Nickel-Copper – PGE Project in La Motte Quebec

In light of such significant gains, it could be a good time for investors to take a look at the announcement made by the company yesterday. Class 1 Nickel and Technologies announced that it had contracted the services of the company TMC for the purposes of the time-domain electromagnetic survey or TDEM in the total area spanning the Ataman and Marbridge trend.

The survey is going to be an important exercise for Class 1 Nickel and Technologies and it seems that investors quite excited about the prospect. The Chief Geophysicist at the company, Alan King spoke about the potential survey as well.

He stated that the survey is going to allow the company with the task of easily comparing signatures that are present at the mineralised sulphide zones at the properties. It will be interesting to see if the stock can maintain its momentum today or not.

Traders Note

NICLF stock is trading above the 50-Day and 100-Day Moving averages of $0.2019 and $0.1889. Moreover, the stock is trading is the neutral zone with RSI stands at 49.

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