The combination of a shooting star (on an upward trend) combined with a red volume, signals a short-term reversal.
After 9 years of continuous growth, the March candle is a strong reversal signal.
A breakout above the yellow resistance is needed for the rally to resume.
Our previous objective of $6 is almost reached. A confirmation pullback pattern could form using the $6 resistance. If not, the next resistance is at $7. Today's breakout represents a strong mid-term buy signal as we can now see a cup and handle pattern combined with a breakout. We also note that the rally that started on 20 March point could be the start of a...
The latest test of the white line trendline following the mid-April breakout, suggests a confirmation pullback might be forming. Price needs to pick up for the breakout to sustain.
A strong breakout with high volumes, above the red resistance, would fuel up and resume the current rally.
PureGold's first production of its under-construction Red-Lake mine is expected for late 2020. Jeff Clark, a famous precious metals analyst, often quotes that empirical studies suggest that there is a 90% probability of a 90% stock-return during a mine's last year of construction.
The lack of strength of the recent rally and the downward trend suggests a short-term test of support.
Bullish candles and rebound on the low-end of the channel, suggest the trend is unchanged for the moment.
Next Resistance at $1420. A strong breakout above $1420 would trigger an upleg to the $1500-$1520 zone.
Price strongly rebounded Monday on the lower end of the pitchfork, validating the upward trading channel.
Support at $5.4 Was Broken Look Out for Next Support at $4.2 Possible Pullback Before Heading to $4.2