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  • TSW Does Technical Outlook Update on (OTCBB: LBSR) Liberty Star Uranium & Metals Corp.

    Written by: Dana Salvo

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    (OTCBB:LBSR) Liberty Star Uranium & Metals Corp.

    Share Structure

    Liberty Star Uranium & Metals Corp.
    Share Structure as of August 26, 2010 (As per the TA)OTCBB: LBSR Liberty Star Uranium & Metals Corp
    Authorized: 1,250,000,000
    Outstanding: 436,784,657
    Float: 322,650,539 estimate

    Market Cap as of Sept 08, 2010 is 53 Million

    Liberty Star Uranium & Metals Corp. engages in the acquisition and exploration of mineral properties in Arizona and Alaska. It holds interests in North Pipes Super Project with 1,757 Federal lode mining claims in northern Arizona on the Arizona Strip; Big Chunk Super Project with 707 mineral claims in the Iliamna region of southwestern Alaska; and Bonanza Hills Project with 56 mineral claims in the Iliamna region of southwestern Alaska. The company focuses on the exploration of uranium, copper, gold, molybdenum, silver, and zinc properties. Liberty Star Uranium & Metals Corp. was founded in 2001 and is based in Tucson, Arizona.

    Technical Out look on Liberty Star Uranium & Metals Corp.

    First Things First let’s go back to August 21, 2010 and revisit the comments TSW made on the weekly top 10. At this time the stock was trading just slightly under .10.

    “Can the Bulls push this stock to a 80-100 million market cap?  The stock has been on an incredible run. TSW will be watching for any signs of those short-selling market makers known as the rat pack. Their specialty is to look for stocks with very high market caps. Support Levels are .10 then .05 cents. Resistance levels are .15-.20 cents.”

    LBSR hit a high .195 which put it close to 100 million market cap. (Right on Money)

    Weekly Top 10

    Now that  Liberty Star Uranium & Metals Corp has played out exactly the way we thought it could where do we go from here?  Liberty Star Uranium & Metals Corp is currently sitting at a 53 million market cap as of today. LBSR  will need to have some kind of forward-looking to push the stock out of this trading range.

    The Bulls smartly came in and bought LBSR right at the 50 day moving average as they were handsomely rewarded with over a 100% gain on the stock. Liberty Star Uranium & Metals Corp is stuck right in the middle of a trading range and is now in the process of building a symmetrical char pattern. (see chart below)

    The Major Support Levels going forward on the chart will be the psychological .10 area and then the 50 day moving average which is currently at .07. The longer LBSR can stay above the psychological .10 area the Bulls will have a launching pad to work with for the next bull run.

    Will be interesting to see if the Bulls can stay in control with a 53 million market cap.

    Forward-Looking Statement: This press release includes “forward-looking statements” within the meaning of the federal securities laws, commonly identified by such terms as “believes,” “looking ahead,” “anticipates,” “estimates” and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company’s projections and expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.

    TheStockWizards.net is not a registered investment advisers or broker/dealer. TheStockWizards.net makes no recommendation that the purchase of securities of companies profiled in this website is suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market their securities, investing in such securities is highly speculative and carries a high risk.

    TheStockwizards.net did not receive compensation for this report.

    Penny Stock Reference

    LBSR — Liberty Star Uranium & Metals Corp. (OTCBB)

    September 9, 2010 @ 4:37 am Trackback URL Posted in Hot Stocks, Profiles and tagged with , , , , , , , , , , , , , , .