Penny Stock To Watch: Golden Phoenix Minerals (GPXM)

Shares in penny stock Golden Phoenix Minerals, Inc. (OTCBB: GPXM.OB) dropped -5.00% to close at $0.0380 on at the end of Monday’s trading session. The penny stock traded volume of 449,224 shares for the day while the 5-Day average volume was nearly double that; 780,353. Shares in the penny stock have dropped -47.22% in the last 20 days.

GPXM market capitalization currently stands at $13,918,798 as compared to its total outstanding shares of 366,284,148 as of November 18, 2011.

GPXM is -78.89% below its June 28, 2011 52-Week High: $0.18.

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The share price of GPXM is trading on Relative Strength Index (RSI) of 30.32 which means that penny stock share price is near its oversold level but still has considerable margin for further decreases in price.

Moving Averages Convergence Divergence (MACD) of the penny stock also indicate a bearish trend which could soon turn bullish as the MACD line is well below the trigger line and zero line.

Nearly one month ago, Golden Phoenix Minerals, Inc. announced that it had engaged SRK Consulting, Inc. to perform a Due Diligence Review of the drilling, geological and project data that had been compiled at the company’s Mineral Ridge Gold Project in Nevada.


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