Positive Indications
After halving in price over the turn of the year, the share price of gold explorer Goliath Resources (WKN A2P063 / TSXV GOT) entered a prolonged bottoming phase and has been moving sideways below 0.9 Canadian dollars. But, if one looks for indications of an upward turn, a number can be identified:
+ the low of September is above the low of May (blue line)
+ Both lows were followed by rises with high turnovers
+ the 100 day line rises again
+ the share price h at was able to overcome the 200-day line for a few weeks for the first time this
year (even if it is currently trading below it again – the gray lines should have a supporting effect)
+ the 100 day line has cut the 200 day line upwards – charttechnically a medium-term buy signal
The indicators shown in the below chart could also support this. The stochastic indicator recently generated a sell signal (blue line crosses red line to the downside), but is already close to the lows that indicated a price reversal to the upside in the past. The trend support has been clearly holding in positive territory above the neutral mark of 100 for over three weeks. The Overbought/ Oversold indicator is in the middle range near zero as neutral. A positive aspect is the transition of the Chaikin Money Flow into the green zone – according to the calculation method of this indicator, this indicates an inflow of capital into the share.
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