On Friday, August 14th at 12:53PMEDT, NIA announced Defiance Silver (TSXV: DEF) at $0.37 per share as its #1 favorite Mexican silver stock suggestion. NIA explained that DEF had a key breakout point of $0.385 per share. In the following hours, DEF successfully surpassed its key breakout point of $0.385 per share and rallied to a closing price for the day and week of $0.41 per share.
Word spread quickly about DEF that weekend. On the morning of Monday, August 17th, DEF gapped up to $0.42 per share and rallied to a high of $0.44 per share before closing at $0.435 per share! From NIA's August 14th suggestion price of $0.37 to DEF's high on Monday, August 17th of $0.44 it gained by 18.92% in two trading days on very strong volume of 1.48 million shares!
Over the following four days, DEF made a healthy pullback on lower volume... closing last week at its 20-day moving average of $0.36 per share.
Once again, word spread quickly about DEF last weekend and how cheap it had become. This past Monday morning, DEF gapped up to $0.375 per share and bounced by 22.22% in the first hour of trading... returning to its high from one week earlier of $0.44 per share! While DEF previously needed to trade very strong volume of 1.48 million shares to rally from $0.35 per share up to $0.44 per share, this time it rallied from $0.36 per share up to $0.44 per share on much lower volume of only 283,500 shares!
Although DEF once again made a healthy pullback after hitting $0.44 per share, the pullback only lasted 5 1/2 hours and it bottomed at a higher low of $0.37 per share, where it closed on Monday. On Tuesday, DEF gapped up for the second straight day to $0.38 per share and gained by 4.73% to a closing price of $0.3875 per share on extremely low volume of 167,855 shares. On Wednesday, DEF gained by 4.52% to $0.405 per share on low volume of 240,165 shares.
On Thursday, DEF gapped up for the third time in four days to $0.415 per share and rallied to a high of $0.43 per share, before making another healthy pullback to $0.39 per share... once again bottoming at a higher low! After closing yesterday at $0.395 per share, DEF made a HUGE gap up this morning to $0.42 per share, which was DEF's fourth gap up in five days! With silver beginning to breakout big once again... DEF today has already traded its highest volume in over a month!
After weeks of DEF bottoming at higher lows, its trading range today has been $0.415-$0.425 per share! Generally speaking, when you see a very narrow trading range on extremely strong volume after weeks of a stock bottoming at higher lows... it is usually a sign that a breakout to the upside could be imminent!
This message has not been seen, reviewed, or approved by DEF. Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from DEF of USD$40,000 cash for a six-month marketing contract. NIA intends to invest into DEF's private placement. This message is meant for informational and educational purposes only and does not provide investment advice.