Positive: Both average lines continue to rise steadily
The chart of Canadian precious metals explorer Goliath Resources (WKN A2P063 / TSXV GOT) continues to show a constant price increase, which has amounted to around 50% since the spring. Since August, the share price has been moving within the gray triangle, which, according to chart theory, fulfills the two important conditions for classification as an “ascending triangle”: A. at the top, the trend line is horizontal (at around 1.35 Canadian dollars) and B. turnover tends to have trend downward. An upward breakout above the CAD 1.35 mark would then be expected.
The two average lines are rising clearly and steadily, and the 100-day line is still above the 200-day line – another positive sign.
The MACD indicator generated a sell signal at the end of August (the blue line crosses the red line downwards) – however, two attempts to switch the indicator back to “buy” have so far failed. The trend confirming indicator is currently quoted exactly at the neutral 100, having even slipped into negative territory in the short term. After a brief overbought peak (above 2.0) in July, the overbought/oversold indicator has slowly weakened again and is now close to neutral zero. The Chaikin Money Flow is remarkable, indicating an almost permanent inflow of capital since the first high in August – with a slight upward trend.
Source: Comdirec
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