Cardinal Resources Inc (OTCBB:CDNL) was a massive mover in yesterday’s trading session. The stock surged by close to 98% on the back of 2.5 times the average daily volumes. The stock has been trending higher over the last few weeks and has been able to comprehensively move above its 50 day moving average. The stock currently is facing resistance at its 200 day moving average, which is a cause for concern for traders. The relative strength index continues to trend in the overbought zone but shows no signs of a reversal. Traders believe the stock could head to levels of $0.048.
Cardinal Resources Inc (OTCBB:CDNL) has decided to mobilize the Panama site. As per the reports, the commissioning of the First Panama Red Bird System is getting finished at a rapid pace.
Cardinal Resources is known for its products and services in the community-scale, solar powered, patented drinking water systems. It, along with a team from Forest Edge Technologies, look forward to installing the first of many systems focused towards communities in Panama.
Insights of The Matter
Reports claim that the company has decided to install CRB-10 in Soloy to demonstrate full capacities of the Red Bird System for Senior Engineers and the communities of the Republic of Panama. The senior management team of Cardinal Resources is happy to share this update, saying that it would prove to be a ground-breaking step in the future. According to Kevin Jones, Chief Executive Officer, Cardinal Resources, this step will change the lives of people of Soloy forever. They are excited to hear this news that Cardinal is working towards offering them clean water.
The prime objective of Cardinal is to install this system as soon as possible so that that people can get benefitted. The Red Bird System of Cardinal doesn’t only represent the empowerment, and opportunity in the local community, but also hope to take this revolution to the national level. Going forward, Cardinal Resources will try to cover the entire Panama and Latin America.
While addressing the reporters, Jones also mentioned Agua Saludable Group, Inc, saying that it had worked closely with senior officials in Chiriuqui Province and other government departments. The work done by Agua Saludable helped Cardinal arrange resources, equipment, and other important things to eventuate this initiative. According to him, both Agua and Cardinal would continue to educate local communities about using this system to continue enjoying clean water uninterruptedly.
Updates about the further initiatives will be shared with shareholders from time to time.