Trend confirmer clearly positive
The share price of the Canadian gold explorer Dynasty Gold (WKN A2DW87 / TSXV DYG) has halved within two months since the top in July – it moved below the blue downward trend line down to 0.17 Canadian dollars. This marked the beginning of a ten-week bottoming phase, which ended with a massive upward impulse accompanied by high volumes. In the first two weeks of December, rising lows emerged, allowing the green upward trend line to be derived. However, the Dynasty price has not yet managed to reach the 100-day line.
The 100-day line has been falling for three months, indicating a medium-term downward trend; in addition, the 200-day line was crossed downwards at the end of November – a technical sell signal. The 200-day line, on the other hand, is encouraging: after a long rise, it is still not falling and has been moving sideways above the round mark of CAD 0.25 for five weeks.
A buy signal was generated by the MACD indicator at the end of November (blue line crosses red line upwards) – the trend confirming indicator was finally able to break through the neutral 100 again and is clearly positive. The overbought/oversold indicator came close to overbought status (from 2.0) on the day of the upward peak, but it quickly returned to normal and is currently showing a slightly positive picture. The Chaikin Money Flow, which indicates the flow of capital, is still slightly in the red zone, which indicates an outflow of capital, but has steadily moved upwards from its low.
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