Galaxy Resources (OTCMKTS:GALXF) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Galaxy Resources Limited (OTCMKTS:GALXF) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $3.57 and traded as low as $3.38. Galaxy Resources shares last traded at $3.57, with a volume of 3,700 shares changing hands.

Galaxy Resources Trading Down 1.9%

The company’s 50-day simple moving average is $3.57 and its 200-day simple moving average is $3.57.

Galaxy Resources Company Profile

Galaxy Resources Limited is an Australia-based lithium mining and development company focused on delivering sustainable sources of high-grade lithium for the electric vehicle and battery storage markets. The company’s core operations have historically centered on the Mt Cattlin spodumene mine in Western Australia, which has produced battery-grade lithium concentrate since 2010. Through exploration and production activities, Galaxy Resources has positioned itself as a supplier of critical raw materials essential to the global transition toward cleaner energy technologies.

In addition to its established Australian mining operation, Galaxy Resources has pursued the development of the Sal de Vida lithium and potash brine project in Argentina’s Lithium Triangle.