Although October was like riding Thunder Mountain at Disney World, November has been promising for Santo Mining Corp. (SANP) traders. Going long took stomach, not brains after a couple of huge, unexpected dips in SANP stock last month, but news and hard mailers seem to have created some amnesia for those who got in early. With exploration updates and an upcoming stock split, the momentum being built this month is raining gains for traders with brass, not gold, in their underoos.
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SANP Stock Chart
Market Cap: 82.29M
Close: 1.30, up 0.23 (21.50%)
Average Trade Size: 2,122
SANP Stock Chart (click here) Since October 1
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Santo Mining closed at it’s highest level this month and its highest since crashing in early October when SANP stock went from $1.60 to $0.33 in just two days. The PR of the former online dental records Company was up yesterday after acquiring the Nathaniel Gold Claim east of Moncion. Although the stock’s MACD chart shows neutral trend in the short term, the first support level is all the way down at $0.84 making this play a risky one.
Although SANP stock is up 62.5% in the last 7 trading sessions, the upcoming 2-for-1 stock split is still looming in the forecast which should come somewhere above the $1.60 high from October 5th. Regardless of the PR coming out for the rest of the week, the play should be green for the remainder of the week and a perfect seller stock for Friday.
About SANP Stock
Santo Mining Corporation is engaged in the acquisition, exploration, and development of mineral properties in the Dominican Republic. The Company owns 100% interests in the Alexia gold exploration claim covering an area of approximately 27.75 square kilometers located near Dajabón, the Eliza gold exploration claim covering 243.75 hectares of explorable lands, and the HENRY gold exploration claim that covers an area of 1,990 hectares located in the Maimon formation of the Hispaniola Gold-Copper Back-Arc.
Bottom Line: SANP is a risky penny stock play since its already more than a month old. However, since the SANP stock split is still being the highlight of the rally with the success PWEID has had since it split, the days may be numbered, but this week should be “glitch-free.”
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