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Traders Get Bullish on Shares of Platinum Group Metals, Shares Up 5.9% (PLG)
Feb 04, 2013 (SmarTrend(R) Spotlight via COMTEX) --
Platinum Group Metals (AMEX:PLG) is one of today's best performing low-priced stocks, up 5.9% to $1.25 on 1.6x average daily volume. Thus far today, Platinum Group Metals has traded 493,000 shares, vs. average volume of 304,000 shares per day. The stock has outperformed the Dow (5.9% to the Dow's -0.8%) and outperformed the S&P 500 (5.9% to the S&P's -0.7%) during today's trading.
There is potential upside of 37.3% for shares of Platinum Group Metals based on a current price of $1.25 and an average consensus analyst price target of $1.72. The stock should discover initial support at its 200-day moving average (MA) of $1.01 and subsequent support at its 50-day MA of $0.94.
Platinum Group Metals Ltd. acquires, explores, and develops platinum properties. The Company currently holds interests in properties located in South Africa and Canada.
Over the past year, Platinum Group Metals has traded in a range of $0.75 to $1.72 and is now at $1.25, 67% above that low. The 200-day and 50-day moving averages have moved 0.57% lower and 1.97% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Platinum Group Metals on January 15th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1.11. Since that recommendation, shares of Platinum Group Metals have risen 6.8%. We continue to monitor PLG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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