Stocks Surging Above 50-Days Moving Average (50SMA): $GGD $PRN $ACQ

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The stock market has been a buzz of activities with equities showing no signs of slowing down amid a challenging environment fuelled by the COVID-19 pandemic. Gogold Resource, ProFound Medical and AutoCanada are some of the stocks powering high above 50-day moving average signaling strong buying pressure?

Gogol Resource Surging On record Gold Prices

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Gogold Resources Inc. (TSX:GGD) is powering high in response to gold prices powering to record highs as investors shift focus to safe-haven. The stock is trading above its 50-day moving average, affirming strengthened investor confidence about its ability to generate long term value.

The stock is already up by more than 200% for the year in what is turning out to be a break out year for the junior mining company. In addition to record gold prices, the company has also confirmed intersecting substantial Silver at its Los Ricos South Project. The high-grade intercepts are among the best in the company's history.

Profound Medical Technology Edge

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Profound Medical Corp (TSX:PRN) has also been on an impressive run, rallying by more than 30% since the start of the year. The stock is trading above its 50-day moving average on investors betting on the company's prospects in the development of medical technology for guided ablation procedures used in the treatment of prostate disease and palliative pain treatment.

The company accrues its edge in the medical technology space on the fact that it is the only one that provides customizable incision-free therapies. Its therapies combine real-time magnetic resonance imaging thermal ultrasound for radiation-free ablation.

AutoCanada Upbeat On Economy Opening

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AutoCanada Inc. (TSX:ACQ) bounces back from record lows continues to gather steam with the stock powering through its 50-day moving average, affirming renewed investor interest. The opening of the economy following the COVID-19 pandemic is the catalyst fuelling sentiments around the stock.

Through its franchisees, the company operates some of the biggest automobile dealerships in British Columbia, Alberta, Manitoba, Quebec, and Illinois in the United States. With the economy opening, it is poised to enjoy booming business as demand for new and old cars is poised to increase. Likewise, it does not come as a surprise that the stock is racing higher.

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