The tech industry and the energy storage sector are now massive markets for energy metals like lithium and hence, it is no surprise that there is a lot of focus on related companies. One of the companies that could be followed at this point is that of Lithium Corporation (OTCMKTS:LTUM).
On Tuesday, LTUM stock gained 0.16% to $0.3175 with more than 204K shares, compared to its average volume of 764K shares. The stock moved within a range of $0.3051 – 0.3298 after opening trade at $0.3170.
Although the Lithium Corporation stock was trading in a range on Tuesday, the company actually made a major announcement yesterday with regards to the fact that there had been another expansion to its Fish Lake Valley claim. The announcement was aimed at the company’s shareholders and it now remains to be seen if it has any impact on the Lithium Corporation stock over the coming days.
However, that was not all. The company also announced that the magnetotelluric survey that had been completed partially also revealed as many as three separate drill targets. Those targets had been found in the southern areas of the claim.
While the announcements were both significant, there was not a lot of enthusiasm from investors. That being dais, stocks trading within a range can often break out strongly and hence, it could be a good idea for investors to consider keeping an eye on Lithium Corporation.
LTUM stock is trading above 20-Day and 50-Day Moving averages of $0.32 and $0.28 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.30.