Gulf Resources (GURE) : Traders are bullish on Gulf Resources (GURE) as it has outperformed the S&P 500 by a wide margin of 30.55% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 24.34%, 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 25% in the last 1 week, and is up 27.91% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 26.26% and the 50-Day Moving Average is 31.44%.The 200 Day SMA reached 35.8% Gulf Resources, Inc. is up 40.13% in the last 3-month period. Year-to-Date the stock performance stands at 20.88%.
For this week, the average consensus of the company shares are rated as a Strong Buy. Gulf Resources (NASDAQ:GURE): The stock opened at $1.9 and touched an intraday high of $2.23 on Friday. During the day, the stock corrected to an intraday low of $1.8842, however, the bulls stepped in and pushed the price higher to close in the green at $2.2 with a gain of 17.02% for the day. The total traded volume for the day was 965,831. The stock had closed at $2.2 in the previous trading session.
Gulf Resources, Inc. is a holding company. The Company manufactures and trades bromine and crude salt, and manufacture and sells chemical products used in oil and gas field exploration, oil and gas distribution, oil field drilling, wastewater processing, papermaking chemical agents and inorganic chemicals. It operates in three segments: bromine, crude salt and chemical products. Bromine is commonly used in brominated flame retardants, fumigants, water purification compounds, medicines and disinfectants. Crude salt is the principal material in alkali production, as well as chlorine alkali production and is used in the chemical, food and beverage, and other industries. Its Chemical products include Hydroxyl guar gum, Demulsified agent, Corrosion inhibitor for acidizing, Bactericide, Iron ion stabilizer, Flocculants agent, Bromopropane, Solid lubricant, Polyether lubricant and Chlorantraniliprole. Its applications include oil exploration and production, paper making and agricultural.