Copper King Mining Corporation
(Public, PINK:CPRK)
With the recent success of Copper King Mining Corporation (PINK: CPRK), a technical video analysis was conducted in order to update expectations on what is likely to happen in the coming days. Our conference call was a tremendous success and nabbed quite a few details on the company’s current and future business operations, we highly advise any newcomers to listen in on the call by following this link. The next couple of days could get real interesting, so make sure you place this stock on your watchlist.
About Copper King Mining Corp.
Copper King Mining Corporation is a Nevada Corporation whose stock is currently traded on the Pink Sheets under the trading symbol CPRK.PK. Through its wholly owned subsidiary Western Utah Copper Company, the company engages in mining activities that include exploration, development, extraction and processing of precious metals, including copper, silver and gold, from its extensive mineral resources located in and around the Milford Mineral Belt in Beaver County, Utah. The company owns or controls approximately 100,000 acres of mineral rights, primarily in the Milford, Utah region
The Milford Mineral Belt is a mineral rich area measuring approximately 18 miles long by 8 miles wide, of which the company controls approximately 59,000 acres of mining claims, State of Utah leases and other leases, that have been categorized as highly probable, probable, or likely for copper, silver, gold, tungsten and molybdenum.
Technical Analysis
During the last trading session, a White Marubozu was formed. This shows that the buyers controlled the price action from the first trade to the last trade. A White Marubozu simply means that the opening price is equal to the low price of the day and the closing price is equal to the high price of the day. This shows that the buyers controlled the price action from the first trade to the last trade. In a White Marubozu day, the day opens and prices continue to rally up all day long without looking back. The bulls were very strong during the day at such a degree that it caused some concern among the bears and led them to cover their short positions thus adding fuel to the rally.
What the White Marubozu says about the future course of the trend depends a lot on the general picture. A White Marubozu can possibly be the first part of a bullish continuation pattern but it may also be interpreted as a bearish reversal candlestick pattern depending on the preceding day’s candlesticks.
Disclosure: Long CPRK
