According to indicators, a further increase seems possible

The six-month chart of Canadian lithium explorer Usha Resources (WKN A3D5BX / TSXV USHA) shows a significant decline in the share price until the beginning of November 2023, when a longer bottoming process began, which, with one exception in February, has never fallen below CAD 0.06. After the short-term low at CAD 0.05, there was an upward impulse accompanied by high turnover, which led the share price significantly above the blue downward trend line and up to the 100-day line.

For two weeks now, the price has been moving sideways in the narrow range of CAD 0.06 to 0.07 just below the 100-day line. A slightly rising green trend line can be derived. Unfortunately, both averages are still falling – however, the 100-day line should now quickly turn into a sideways movement.

According to indicators, a further increase seems possible

The indicators suggest that a further rise is possible. The MACD indicator’s technical buy signal (blue line crosses red line upwards) remains intact. The trend confirming indicator recently crossed the neutral 100 and has been trading in positive territory since then. Very far into positive territory (but so far never in overbought territory (from 80)). The Money Flow Index, which is regarded as a sales-weighted relative strength index (RSI), is very far into positive territory. Particular attention should be paid to the Chaikin Money Flow, which according to its calculation method has indicated an inflow of capital since the end of January (constantly in the green zone).

If the price were to rise, the round mark of CAD 0.10 and then the 200-day line could be considered as targets.

Technical chart of Usha Resources, indicators included below

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According to §34b WpHG and § 48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, principals or employees of GOLDINVEST Consulting GmbH hold shares of Usha Resources and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares of the company at any time. Furthermore, there is a contractual relationship between Usha Resources and GOLDINVEST Consulting GmbH, which includes that GOLDINVEST Consulting GmbH reports about Usha Resources. This is another clear conflict of interest.

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