Oil Shale Play: Imperial Resources (IPRC) Open Under 30

Shares in the penny stock of Imperial Resources Inc. (OTC: IPRC) are set to open down around 4 cents at 0.29, down 8% from the last trading session. IPRC saw 3.58 million shares of its penny stock trade yesterday as the stock continued its rally closing at 0.325. There were 464 trades executed with an average trade size of 7,728 shares. Expect a big bounce in IPRC within seconds after the open.

Imperial Resources made an announcement yesterday before the bell with their wholly owned subsidiary, Imperial Oil & Gas, Inc. that all major ground works at the company’s Green Tide Salt Water Disposal Facility are now complete. A week ag we profiled IPRC about the repair of this facility and the profitability the company had built into it based on the oil shale play.

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IPRC Stock Snap Shot:

Market Cap: 13.94M
52-Week High
(May 10, 2011): 0.79
52-Week Low
(Dec 29, 2011): 0.08
Avg Vol (3 month): 315,856
Avg Vol (10 day): 897,771
Shares Outstanding: 42.89M
Float: 40.42M
% Held by Insiders1: 5.77%

5 Day Summary:
Percent Change: 20.33%
Moving Average: 0.294
Average Volume: 1,158,189

10 Day Summary:
Percent Change: 30%
Moving Average: 0.2984
Average Volume: 726,968

Support & Resistance:
2nd Resistance Point: 0.3533
1st Resistance Point: 0.3392
1st Support Level: 0.2967
2nd Support Level: 0.2683

Bottom Line: IPRC should already be on your list of penny stocks to watch. If IPRC reaches the 1st support level within the first 15 minutes of trading, expect to see some swift buying to drive the pps back up. If you think long, you think wrong. IPRC is a great stock to own long and take advantage of the money behind it in the awareness program.


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