Upwards trend holding

The share price of Canadian uranium explorer Laramide Resources (WKN 157084 / TSX LAM) has been moving within the blue upward trend channel since the summer, with the share price gaining around 50%. Following the high for the year in September, the price is currently trading at the lower edge of the trend channel at 0.60 Canadian dollars.

The sideways movement since August has been accompanied by falling trading volumes – the short-term red downtrend line within the trend channel was overcome with rising volumes.

Both average lines have been rising for several weeks – this is just as positive as the technical buy signal generated in mid-September by the upward crossing of the 100-day line through the 200-day line.

Among the indicators, the MACD is attempting to generate a buy signal – however, the blue line has not yet been able to cross the red line permanently. After two months of consolidation, the trend confirmer briefly dipped below the neutral mark of 100 into negative territory but was able to recover and is now just about positive. The overbought/oversold indicator recorded a brief excursion into the overbought zone above 2.0 in August and is currently clearly in positive territory but still well away from 2.0. The money flow index (sales-weighted relative strength RSI) was also in overbought territory in August with values above 80 and is slowly rising again after the consolidation.

Source: Comdirect

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According to §34 WpHG we would like to point out that partners, authors and/or employees of GOLDINVEST Consulting GmbH may hold or hold shares of Laramide Resources and therefore a conflict of interest may exist. We also cannot exclude that other stock letters, media or research firms discuss the stocks we discuss during the same period. Therefore, symmetrical information and opinion generation may occur during this period. Furthermore, there is a consulting or other service contract between Laramide Resources and GOLDINVEST Consulting GmbH, which means that there is a conflict of interest.

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