$POR.v Chart Looking Strong Following Recent Big Agreement It’s a solid day for Portofino Resources (TSXV: POR) so far, as the stock crosses above the 50MA on a 13% gain. This cross is coming from a bounce off of support at the 200 MA as shares head towards the bearish trend line of a descending triangle pattern.
I expect to see shares test the bearish trend line this week and if they do not break through. I anticipate shares to retest the 200MA or the lower boundary of the pattern at $.09.
Portofino recently increased its lithium position in Argentina to the tune of 27,000 acres via an agreement with REMSa and Ronialem. There will be lots of catalysts to watch for following the signing of this MOU, any of which could send shares into a breakaway.
$POR.v is currently trading at $.125 and the company is valued at an MCAP of $12.78M.
https://www.nxtmine.com/news/articles/energy-critical-metals/portofino-resources-greatly-increases-the-size-of-its-lithium-presence-in-argentina-2/