ARArgonaut Gold completed major C wave down , started a new impulse move up , and is now correcting in bull flag fashion . This one is beaten into the dirt but i am really liking the fact that production is humming along especially on the gold side and they are in the process of opening a new gold mine in Ontario which is set to be their main production source going forward . I see this as a major turnaround play .
Ontario
Hydro_One_(TSX:H)_May_09_2018Hydro One is an electricity transmission and distribution utility serving the Canadian province of Ontario. Currently, Hydro One is trading at historic lows since its IPO. The underlying trend is bearish, while the chart pattern is Broadening Bottom. At this point the price can go either way. Currently, the support is being tested at the trendline (Dividend is around 4.4%). If price drops further (below CAD $20, then the probability that the price may go down further increases. However, if price does not drop further within the next few days, this is an excellent entry point as the probability of a price rise after an broadening bottom with an underlying bearish trend is over 50%.
The elections in Ontario (to be held in June) will be a critical factor in determining the mid to long term outlook for the stock. Currently, all parties (political) do not want the price of electricity to go up (the government is a large shareholder of the utility). However, after the elections these poll pledges might disappear as energy prices across all sectors tend to rise (especially during the summer months).
