Stochastic indicator with current buy signal
The six-month chart of industrial minerals company West High Yield Resources (WKN A1J5LQ / TSXV WHY) shows a price explosion in June accompanied by high turnover, which was followed by a three-month price decline below the blue downward trend line. In the process, more than half of the share price was lost – in particular due to a crash with a peak in turnover in the middle of August. Since September, the green upward trend channel has emerged, which has now managed to sustainably overcome the downward trend line.
The price is currently moving in the direction of the two average lines. It is also positive to note that the upward waves within the trend channel have so far always been accompanied by rising turnover (orange lines).
The 100-day line and the 200-day line are close together, with the 200-day line moving sideways and the 100-day line moving slightly downwards.
The MACD indicator already gave a buy signal in September – the blue line crossed the red line to the upside. It continues to run there. A sell signal was avoided in the last days of October – the blue line did not fall below the red line and was recently able to move slightly upwards again. The stochastic indicator generated a buy signal on October 20 – here, too, the blue line crossed above the red line to the upside and is currently moving further away from the latter.
Source: Stockcharts
Disclaimer: GOLDINVEST Consulting GmbH publishes comments, analyses and news on https://goldinvest.de. This content is intended solely for the information of readers and does not constitute any kind of call to action; neither explicitly nor implicitly are they to be understood as a guarantee of any price developments. Furthermore, it is in no way a substitute for individual expert investment advice and does not constitute an offer to sell the share(s) in question or a solicitation to buy or sell securities. This is expressly not a financial analysis, but an advertising/journalistic text. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between GOLDINVEST Consulting GmbH and its readers or the users of its offers, as our information relates only to the company and not to the reader’s investment decision.
The acquisition of securities involves high risks that can lead to the total loss of the capital invested. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research, but any liability for financial losses or the guarantee that the content of the articles offered here is up-to-date, correct, appropriate and complete is expressly excluded. Please also note our terms of use.
According to §34b WpHG and §48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, clients or employees of GOLDINVEST Consulting GmbH hold shares in WHY Resources and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares in the company at any time. In addition, GOLDINVEST Consulting GmbH is remunerated by WHY Resources for reporting on the company. This is another clear conflict of interest.
