Gediminas Jasionis
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Northern Superior Resources Inc. (CVE:SUP) (PINK:NSUPF) Pokes Above Resistance

by Gediminas Jasionis Dec 9, 2011
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6sup_chart.pngNorthern Superior Resources Inc. (CVE:SUP) (PINK:NSUPF) stock price punched through the resistance and has established itself on the higher ground after a series of news announcements created heavy buying pressure.

SUP retained a gain of 25% from Wednesday's run-up despite tracing down for most of yesterday's session. However, it appears the rally won't be extending any further. Thursday's attempt to gap up ended with profit taking and bears dominated the session. It could very well follow the same scenario that was presented in October.

On the other hand, the stock price poked above the 24 cents per share resistance, which now became a strong support and could allow securing this higher ground.

This time, it was news after news that allowed for such a heavy trading activity and a massive share price increase.

northern_superior_resources_logo.jpgOn December 6, Northern announced to have defined an extension to the Ti-pa-haa-kaa-ning gold zone on Net Growth gold property in Ontario. On December 7, Northern Superior revealed to have recovered 83 boulders containing high grades of gold. And on December 8, the company announced to have identified four new gold targets on Ti-pa-haa-kaa-ning, which directly caused the share price spike.

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