Asanko Gold (NYSEMKT:AKG) : Traders are bullish on Asanko Gold (NYSEMKT:AKG) as it has outperformed the S&P 500 by a wide margin of 2.52% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.34%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 8.72% in the last 1 week, and is up 4.18% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have rallied 125.53% from its 1 Year high price. On Jun 13, 2016, the shares registered one year high at $4.53 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $3.89 and the 200 Day Moving Average price is recorded at $2.59.
The stock has recorded a 20-day Moving Average of 2.91% and the 50-Day Moving Average is 16%.
Asanko Gold (NYSEMKT:AKG): stock turned positive on Friday. Though the stock opened at $4.19, the bulls momentum made the stock top out at $4.289 level for the day. The stock recorded a low of $4.01 and closed the trading day at $4.24, in the green by 1.44%. The total traded volume for the day was 828,869. The stock had closed at $4.18 in the previous days trading.
Asanko Gold Inc. (Asanko) is a Canada-based exploration and development stage company. The Companys primary asset is its Asanko Gold Mine Project located on the Asankrangwa gold belt in Ghana. In addition to its principal project, the Company holds a portfolio of other Ghanaian gold concessions in various stages of exploration. The Asanko Gold Mine Project is located in the Amansie West district of the Ashanti region of Ghana, approximately 250 kilometer northwest of the capital Accra, and about 50 to 80 kilometer southwest of the regional capital of Kumasi. The Company is developing Asanko Gold Mine Project in two Phases. The Phase I consists of Nkran pit, which accounts for 85% of the Phase I ore reserves, and four satellite deposits, Abore, Asuadai, Dynamite Hill and Adubiaso.