Fellow Investors,
USA Graphite (USGT) shares are higher in early trading on Thursday. The shares are seeing strong support in the first half hour of trading with little evidence of short selling or profit-taking. The price is quickly climbing up and it looks to be going higher by the end of the day.
The share price has cleared two important technical hurdles this morning. First, the share price has stayed above the 20-day simple moving average ($0.7556) confirming that this important moving average has gone from being resistance to being support. Second, the shares are now trading above the 7-day simple moving average ($0.7520), which should start to turn higher tomorrow, providing rising short-term support.
There is still a massive short position out there that has to be covered. The USGT chart is looking great and the fundamentals are solid. Don't miss out on this opportunity to get USGT while it is still below $1
Happy Trading!
Disclaimer: http://i.imgur.com/pK3h1.jpg
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