August 1, 2016 - 4:09 PM EDT
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Midday Update: Gulf Resources Inc. (GURE) Charges Ahead 2.45% on August 1

Gulf Resources Inc. (GURE) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector during morning trading on August 1. At the lunch break, shares of GURE have gained 2.45% to $1.67 after closing the day prior at $1.63. In the first two and a half hours of trading, the stock has gone as high as $1.75 and as low as $1.63. Today's rise has come with about 15,444 shares changing hands, compared to an average 30-day volume of 90,221 for Gulf Resources Inc.. The price is currently below the 30-day volume weighted average price of $1.68 for GURE. The share appreciation gives the company a market capitalization of $74.99 million based upon 46.01 million shares outstanding. It also means that GURE has a price-to-book ratio of 0.22:1. In the past 52 weeks, shares of GURE have traded as low as $1.31 and as high as $2.12. Technical traders will take note that at $1.67, shares of GURE are trading above their 200-day MA at $1.63 and above their 50-day MA at $1.56. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish. Who is GURE? Gulf Resources Inc manufactures and trades bromine and crude salt, and manufactures and sells chemical products used in oil and gas field exploration, oil and gas distribution, oil field drilling, wastewater processing, papermaking chemical agents. The company’s 738 employees are led by CEO Xiaobin Liu from the corporate headquarters at Level 11,Vegetable Building in Shouguang City, Shandong. For more information on GURE and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit today. All data provided by QuoteMedia, with stock data accurate as of 12:00 PM ET. is not responsible for inaccuracies in third-party supplied information. About is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here.

Source: Financial Press News (August 1, 2016 - 4:09 PM EDT)

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