Stochastic indicator issues buy signal
The share price of Canadian uranium company Laramide Resources (WKN 157084 / TSX LAM) continues to move upwards in the blue upward trend channel (as it did at the time of the previous chart check in November) and was once again able to reach the upper edge of the trend channel at 0.92 Canadian dollars in the current upward wave. As already shown in November, a peculiarity of the upward movement is currently continuing: after each contact of the share price with the upper edge of the trend, turnover falls during the subsequent consolidation (see pink lines in the volume chart).
The average lines are both rising and the technical buy signal from September is still intact.
The indicators partly reflect the current consolidation in the upward trend channel. The MACD issued a technical sell signal shortly after the February top (blue line crosses red line downwards) – this indicator is now at a six-month low and could soon start to generate a buy signal. This has already been achieved by the stochastic indicator (blue line crosses red line upwards), which initially turned to sell at the same time in February as the MACD. The trend certifier has recently entered negative territory, slipping below the neutral 100 and currently falling further. The Money Flow Index (sales-weighted relative strength RSI) has been in a sideways range, clearly in the positive zone, for months. The distance to the overbought status (above 80, seen once in the short term in the summer) has always been present. The consolidation of the overbought/oversold indicator recently reached the zero mark, meaning that this indicator can be assessed as absolutely neutral.
Source: Comdirect
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In accordance with §34 WpHG, we would like to point out that partners, authors and/or employees of GOLDINVEST Consulting GmbH may hold or hold shares in Laramide Resources and therefore a conflict of interest may exist. Furthermore, we cannot rule out the possibility that other market letters, media or research companies may discuss the stocks we cover during the same period. Therefore, there may be a symmetrical generation of information and opinions during this period. Furthermore, a consultancy or other service contract exists between Laramide Resources and GOLDINVEST Consulting GmbH, which constitutes a conflict of interest.
