MACD indicator creates buy signal
The share price of the Canadian gold and copper exploration company Heritage Mining (WKN A3DTM6 / CSE HML) has been moving downwards below the blue trend line since the summer of last year, losing a good half of its value. After a massive bottom formation in February and March, the share price succeeded in clearly overcoming the blue trend line and both average lines.
Since the end of March, the purple upward trend line can be derived, above which the price has been moving since then and has now recently reached the double top from the end of October (gray line).
The situation with the average lines is not yet so positive – the 200-day line is still falling and the 100-day line is still below it. Fortunately, the 100-day line has been moving upwards again since mid-June and is now rapidly approaching the 200-day line.
The indicators shown are positive and still leave room for upward movement. A few days ago, the MACD generated a technical buy signal by crossing the blue line upwards through the red line. The trend confirmator has been trending positively for three months – it is still clearly above the neutral 100 and is already starting to rise again after a small downward wave in June. Capital has been flowing into the share again since the beginning of May – as indicated by the Chaikin Money Flow’s constant trend in the green zone. The turnover-weighted RSI (relative strength) – known as the Money Flow Index – fell in mid-June, but failed to reach the oversold zone (between 20 and 30). It has currently recovered again and is quoted at around 50 in the neutral middle – i.e. not yet overheated in any way (this would be the case from 70-80).
If the upward trend continues, the triple high from September at $0.075 would come into view first.
Source: Comdirect
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According to §34b WpHG and § 48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, principals or employees of GOLDINVEST Consulting GmbH hold shares of Heritage Mining Ltd. and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares of Heritage Mining Ltd. at any time, which could influence the price of the shares. In addition, there is a consulting or other service contract between Artic Fox Lithium Corp. and GOLDINVEST Consulting GmbH, with which a further conflict of interest exists, since Heritage Mining Ltd. remunerates GOLDINVEST Consulting GmbH for reporting.
