Is an uptrend establishing itself?
After the high in February, the share price of Australian technology company FYI Resources (ASX FYI / WKN A0RDPF) has steadily decreased below the blue downtrend line and more than halved its value. Two weeks ago, the turnaround seems to have begun, though. First the gray resistance line and shortly thereafter the blue trend line were overcome. The low in October was higher than in August – thus, the light green uptrend channel seems to be able to establish itself.
The two average lines continue to fall – that is negative. But the 100-day line has stopped moving downward in recent days and is currently moving sideways.
The MACD indicator recently generated a technical buy signal (the blue line crossed the red line upwards) and the “trend confirmer” too, managed to move above the neutral 100 in October and is currently considered positive. The more complex calculated Directional Movement Index indicates an uptrend (the green line is running above the red line) – furthermore, the rise of the blue line of this indicator signals an increasing trend strength. The Overbought/ Oversold indicator is currently close to neutral zero and would not stand in the way of a further upward movement. An inflow of capital into the stock is indicated by the Chaikin Money Flow – it is currently clearly in the green zone (ultimately already since the beginning of September – with a short interruption).
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In accordance with §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 FYI Resources and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares of the company at any time. Furthermore, GOLDINVEST Consulting GmbH is remunerated by FYI Resources and EcoGraf for reporting on the company. This is another clear conflict of interest.
