50% price gain since the beginning of 2024
The six-month chart of Canadian copper and gold explorer Aston Bay (WKN A2AUFP / TSXV BAY) shows a sideways movement in the last few months of last year, followed by a dramatic rise in January in which both average lines were overcome. Back then, already, the current price level was already reached and since then the share has tended to move sideways with fluctuations (albeit with clearly rising lows, from which the still intact blue upward trend line can be derived).
Both average lines above which the price runs are clearly rising – the 200-day line over the entire observation period, the 100-day line turned upwards in mid-February. In the near future, the 100-day line could possibly cross above the 200-day line as an additional positive factor.
The MACD indicator is attempting to generate a technical buy signal by crossing the blue line upwards through the red line – so far without success. The trend confirmator, which has been in positive territory above the neutral 100 for over four months but has been exactly at the 100 in recent days, is also still trendless – but has not yet left it to the downside. The overbought/oversold indicator was assessed as overbought at the turn of the year with its peak above the 2.0 level – it is currently at 0.4 and thus close to the neutral midpoint. The Money Flow Index (sales-weighted relative strength RSI) was also overbought in the short term near the January top with a value above 80. Since then, it has been in the zone between 60 and 70 – clearly positive but just as clearly not overheated.
Source: Comdirect
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