New York, NY -- (ReleaseWire) -- 12/27/2012 -- Southridge Enterprises Inc. (PINKSHEETS: SRGE), a company engaged in the acquisition, exploration and development of gold and silver mines in Mexico, is up sharply in mid-day trading today, reversing some of the losses from the previous trading session.
SRGE had finished more than 37% lower on Wednesday even as the company announced a joint partnership with Kinross (NYSE: KGC) for its Cinco Minas and Gran Cabrera properties. SRGE is currently trading 16% higher at $0.0058 on volume of 72.48 million, which is well above the daily average volume of 53.59 million.
SRGE on Wednesday fell below $0.0060, which has been a key support level for the stock. The next support level for the stock is at around $0.0055. The stock faces resistance at around $0.0070.
Find out more about SRGE by getting the free full report here: http://www.wallstreetscoop.net/market-scan/?symbol=SRGE
AMR Corp. (OTCQB: AAMRQ), the parent company of American Airlines, are lower in trading today. At last check, AAMRQ was trading 1.04% lower at $0.802 on volume of 1.34 million, which is nearly a quarter of the daily average volume of 5.61 million. AAMRQ has now fallen in four of the last five trading sessions, which is a bearish signal.
The bearish trend is confirmed by the stock’s technical indicators. AAMRQ had an excellent run for two weeks before slipping last week. The stock had been gaining momentum amid speculation that it would be acquired by US Airways Group Inc. (NYSE: LCC). AAMRQ has been seen as a takeover target ever since the company filed for bankruptcy in November 2011.
AAMRQ currently has support at around $0.75. The downward slide could continue if the stock falls below this key technical level.
Find out if AAMRQ could bounce back in the very short term by getting the free full report here: http://www.wallstreetscoop.net/market-scan/?symbol=AAMRQ
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