GEMS could rebound to retest resistance at $.295. After seeing a relatively large spike in volume on Friday, I’m going to be keeping a close eye on Infinity Stone (CSE: GEMS). Strong support has been established at $.18, and if this recent big share dump doesn’t cause SP to cross below here, I think a bullish breakout could be in order. The last time we saw volume this high, SP made some big moves.
GEMS SP has been consolidating along support at $.18 for 3 weeks now. The last rebound from this support point saw shares into a 63% gain up to $.295, where there is now established historical resistance.
Updates are expected soon regarding the company’s recent acquisition of the Galaxy Pegmatite Project, where lithium-bearing spodumene was recently recovered. With the company set to acquire a 100% interest in the property, further discovery at this project holds some big potential.
GEMS.c is currently trading at $.19, valued at $12.32 million.
https://ceo.ca/@newsfile/infinity-stone-enters-into-option-agreement-to-acquire