Houston Natural Resources Corp. (OTC:HNRC) Stock Trends Higher As NGTG Commences Trading

There were some stocks that ended up making significant gains last Friday, and one of those was the Houston Natural Resources Corp. (OTC:HNRC) stock, which ended up with gains of 55%. Considering the magnitude of the gains, the stock could be in focus today.

Significant Update

The company was in the news cycle on October 25 after it emerged that Cunningham Mining Limited, its portfolio company, had launched the Nugget Trap Token offering. The offering had been made on the Biconomy Exchange. It was further noted that Cunningham Mining also intended to list the token on a number of other exchanges. The innovative tokenization scheme could help in revolutionizing the mining space by coming up with a new financing model, Cunningham Mining asserted.

Crucial Agreement

In the news release, Cunningham also announced that it had reached a definitive agreement to acquire all the issued and outstanding shares of American Creek Resources Ltd. for $0.31 a share. It was described as an arm’s length transaction conducted entirely in cash. On a diluted basis, the transaction had a valuation of $150 million.

In light of the key announcements, it could be a good time for investors to consider Houston Natural Resources Corp. to be one to watch over the course of the coming days.

Traders Notes

+/- EMA(20)	0.0126 (+42.86%)
+/- SMA(50)	0.0112 (+60.71%)
+/- SMA(200)	0.016 (+12.50%)
5-Day Perf.	+65.14%
1-Month Perf.	+52.54%
3-Month Perf.	+28.57%
6-Month Perf.	-13.88%
YTD Perf.	-35.71%
1-Year Perf.	-62.42%
RSI(14)	70.98
ATR(14)	–
ADX(14)	18.32
Beta (5Y)	0.25