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Silver Standard Resources Makes a Move: Up 3.0%

Published on Tue, 01/08/2013 - 11:15
By Robert Cotter

Up 3.0% to $14.97, Silver Standard Resources (NASDAQ:SSRI), is one of today's notable movers. The S&P is currently trading 0.6% lower to 1,454 and the Dow Jones Industrial Average is trading 0.5% lower to 13,323.

Silver Standard Resources Inc. is a silver exploration company focused on acquiring and developing silver resources on a global basis. The Company has projects in Argentina, Peru, Mexico, Canada, Chile, the United States and Australia.

Silver Standard Resources share prices have moved between a 52-week high of $18.34 and a 52-week low of $10.06 and are now trading 49% above that low price at $14.97 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has remained constant.

Silver Standard Resources has overhead space with shares priced $14.97, or 30.1% below the average consensus analyst price target of $21.40. The stock should discover initial support at its 50-day moving average (MA) of $14.33 and subsequent support at its 200-day MA of $13.63.

By Robert Cotter