{kanada_flagge}Sitka Gold’s (CSE SIG / OTCQB SITKF / WKN A2JG70) stock chart shows a clear picture. The resistance zone from the last quarter of 2021, marked by two blue lines, was successfully confirmed as support several times from February to March after the December rise. Prior to that, it went down from the December top for six weeks in a trend channel (red). During March, slightly rising highs and lows of the price are showing, a road map?
The red 100-day line is about to intersect the green 200-day line upwards (arrow) – this would be a medium-term, technical buy signal. A still falling 200-day could put the brakes on, though.
Among the indicators, MACD and Stochastic have generated buy signals, also the trend indicator has risen above the 100 line – also a buy signal (which worked well Nov/Dec, incidently). The Chaikin Money Flow Indicator for January and March showed a capital outflow (red), but is currently neutral.
Outlook: if the two highs from February and March can be overcome, there would be potential up to the December high.
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