Turn-around on the horizon?
On the heels of news they've finally reached the gold deposit, it looks like this one is attempting to break out of the long-term downtrend. The price has back-tested the log-scale trendline (resistance now becoming support), and the next major resistance is the 0.786 fib level at around 20 cents.
The fib levels have all acted as resistance on the way down, so they should be significant on the way back up as well. The week closed above the 50-week EMA, and the indicators are starting to indicate positive trends (KST indicator is now in positive territory and 13/48 MACD is just about there too). Good volume candle to end out the week as well.
Heikin Ashi candles were used for better visualization of such a thinly-traded stock.
Wishing good health to all,
TZ
The fib levels have all acted as resistance on the way down, so they should be significant on the way back up as well. The week closed above the 50-week EMA, and the indicators are starting to indicate positive trends (KST indicator is now in positive territory and 13/48 MACD is just about there too). Good volume candle to end out the week as well.
Heikin Ashi candles were used for better visualization of such a thinly-traded stock.
Wishing good health to all,
TZ
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