SPROTT INC - TSX: $SII OTC: $SPOXF Flagging, AgainAfter breaking-out in June and then subsequently digesting that move for several weeks within a Flag pattern, shares of SPROTT INC - TSX:SII OTC:SPOXF are once again in Flag mode having broken to higher ground a week ago and digesting the recent thrust into northern territory as evidenced in the Daily chart above.
In addition, SII currently trades above all of its important moving averages 20/50/200 DMA's, which depicts a healthy technical posture.
Furthermore, when one extends out their timeframes to the Weekly and particularly the Monthly, SII finds itself in excellent technical shape across all durations. A picture of health.
For those who read our work consistently, it's no secret that we remain extremely constructive on the Metals, both Gold and Silver, continuing to believe that we are merely in the very early innings of a re-emerged bull that will likely prove beneficial for the precious metals equities in the weeks/months and years ahead.
Thus, both investors/traders may want to continue to monitor the action of SII in the days/weeks ahead for signs/clues that the stock is ready for another leg higher out of its present Flag.
Nonetheless, while pullbacks can occur and should be expected over the course of time in order to build additional cause/energy within the precious metals space, we believe that SII has potential for significant price appreciation moving forward.
