Consolidation now clearly over

The share price of the Australian copper explorer American West Metals (WKN A3DE4Y / ASX AW1) experienced an extremely volatile year in 2023: after the share price halved in the first two months, the upward movement that has always run above the blue trend line and is still intact today began in March. The price explosion from June to September, which took place amid extremely high turnover, came to an end after the consolidation – the purple downward trend line that emerged in the process was significantly broken a few weeks ago, as were the two average lines. The blue upward trend line thus proved to be the stronger line.

The 200-day line continues to rise; the currently falling 100-day line was already able to overcome the 200-day line in August (which was a medium-term technical buy signal) and will probably be able to avoid falling below the 200 again if prices continue to rise. Overall, the average lines should be viewed as slightly positive.

The MACD indicator gave a technical buy signal in December (blue line crosses red line upwards) – this has not yet been reversed. The trend confirmer made it back above the neutral 100 into positive territory in November and is currently continuing to rise. As early as the end of July, the Chaikin Money Flow indicated an outflow of capital from the share by slipping into the red zone. With one short-term exception, this was the case until a few days ago. For the past two days, this indicator has been in the green zone, albeit only minimally so far, indicating an inflow of capital. The overbought/oversold indicator shows the volatility of the price as four times, an overbought situation was given with a value of 2.0 – once the indicator also came close to oversold status with -1.5. It currently stands at 1.0 with a medium-term upward trend and can therefore be regarded as clearly positive but still far from overheated.

Despite all the volatility, the bottom line is that the share price is higher today than at the beginning of last year and around four times higher than at the low point in March 2023.

This is a technical analysis chart for a financial market showing various indicators such as moving averages, volume bars, MACD (Moving Average Convergence Divergence), Chaikin Money Flow and Overbought/Oversold levels.
Source: Comdirect

Disclaimer: GOLDINVEST Consulting GmbH publishes comments, analyses and news on These contents serve exclusively the information of the readers and do not represent any kind of call to action, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. Furthermore, they in no way replace an individual expert investment advice, it is rather promotional / journalistic publications. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. The acquisition of securities, especially with shares in the penny stock area, carries high risks, which can lead to a total loss of the invested capital. The GOLDINVEST Consulting GmbH and its authors exclude any liability for financial losses or the content guarantee for topicality, correctness, adequacy and completeness of the articles offered here expressly. Please also note our terms of use.

Pursuant to §34b WpHG (Securities Trading Act) and in accordance with Paragraph 48f (5) BörseG (Austrian Stock Exchange Act) we would like to point out that principals, partners, authors and employees of GOLDINVEST Consulting GmbH hold or may hold shares in American West Metals and therefore a possible conflict of interest exists. We also cannot exclude that other stock letters, media or research firms discuss American West Metals during the same period. Therefore, symmetrical information and opinion generation may occur during this period. Furthermore, there is a consulting or other service contract between American West Metals and GOLDINVEST Consulting GmbH, which means that a conflict of interest exists.

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