Chart check Dynasty Gold: Consolidation after the second five-year high in 2023

The price explosion in Dynasty Gold shares (WKN A2DW87 / TSXV DZG), triggered by the January drill results, was not a flash in the pan. The 50% correction after the news-induced high formed the starting point for the further rising trend of the share price – clearly visible in the blue rising trend line.

The second high was above the January top and thus shows a rising trend here as well. Both tops are the highest in five years. The current consolidation stopped exactly at the blue trend line as well as at the 200-day line – here, the price turned upward again and was also able to slightly exceed the 100-day line again.

Both average lines continue to rise (albeit at a slower pace) – in addition, the 100-day line was already able to cross the 200-day line upwards in March. Both are clearly positive signs.

The MACD and the Stochastic indicator both generated a technical buy-signal a few days ago (blue line crosses red line upwards). The money flow index (sales-weighted relative strength RSI) reached the overbought area at 80 several times in 2023, is currently well below it again, but clearly in positive territory above the 50. The Chaikin money flow indicator has been showing an inflow of capital into the share again for a few days by running in the green area.

Chartcheck Dynasty Gold: Konsolidierung nach dem zweitem Fünfjahreshoch im Jahre 2023
Source: Comdirect

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