[dehai-news] (FNNO.com) Shares of Nevsun Resources Are Moving Lower on 2.5x Above-Average Volume

From: Biniam Tekle <biniamt_at_dehai.org_at_dehai.org>
Date: Wed, 19 Oct 2011 22:39:18 -0400

http://www.fnno.com/story/unusual-volume/331-shares-nevsun-resources-are-moving-lower-25x-above-average-volume-nsu-unusual-volume Shares of Nevsun Resources Are Moving Lower on 2.5x Above-Average Volume (NSU)
Published on Wed, 10/19/2011 - 13:03
By Robert Cotter in Unusual volume, NSU, amex:nsu, nevsun resources, unusual volume

Shares of Nevsun Resources are trading today in above average volume, with the share price falling 12.4% to $4.81. About 1.8 million shares have been traded today, as compared to the 30-day average volume of 734,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

Nevsun Resources share prices have moved between a 52-week high of $7.75 and the current low of $4.39 and are currently at $4.81 per share. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has remained constant.

Nevsun Resources Ltd. is a gold producer and base metal developer. The Company has a gold-copper-zinc mine in Eritrea.

There is potential upside of 63.6% for shares of Nevsun Resources based on a current price of $4.81 and an average consensus analyst price target of $7.87. The stock should run into initial resistance at its 200-day moving average (MA) of $6.04 and subsequent resistance at its 50-day MA of $6.11.

By Robert Cotter
rcotter_at_fnno.com

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