Molybdenum News Center

Investors look to Lighten Up on Shares of General Moly, Shares Down 7.3%

Mar 26, 2013 (SmarTrend(R) Spotlight via COMTEX) -- General Moly (AMEX:GMO) is one of today's worst performing low-priced stocks, down 7.3% to $2.15 on 1.2x average daily volume. Thus far today, General Moly has traded 331,000 shares, vs. average volume of 282,000 shares per day. The stock has underperformed the Dow (-7.3% to the Dow's 0.6%) and underperformed the S&P 500 (-7.3% to the S&P's 0.5%) during today's trading.

General Moly has overhead space with shares priced $2.15, or 45.3% below the average consensus analyst price target of $3.93. The stock should find initial resistance at its 200-day moving average (MA) of $3.29 and further resistance at its 50-day MA of $3.30.

Over the past year, General Moly has traded in a range of $2.04 to $4.25 and is now at $2.15, 5% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 3% while the 200-day MA has slid 0.2%.

General Moly, Inc. develops, explores, and mines molybdenum minerals in the United States.

SmarTrend recommended that its subscribers protect gains by selling shares of General Moly on February 11th, 2013 by issuing a Downtrend alert when the shares were trading at $3.39. Since that call, shares of General Moly have fallen 31.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

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