{kanada_flagge}The share price of copper company Element 29 Resources (WKN A2QKKG / TSXV ECU) lost a good three quarters of its value in the last 12 months and moved downwards within the blue trend channel during this time. A bottom (gray line) was found in February of this year at 0.15 Canadian dollars – and here the price turned upwards and was able to break out of the downward trend channel.
{kanada_flagge}The share price of copper company Element 29 Resources (WKN A2QKKG / TSXV ECU) lost a good three quarters of its value in the last 12 months and moved downwards within the blue trend channel during this time. A bottom (gray line) was found in February of this year at 0.15 Canadian dollars – and here the price turned upwards and was able to break out of the downward trend channel.
In the process, the violet upward trend channel was established, in the middle of which the price is currently located. The 100-day line had already been overcome some time ago, but the price recently fell back to this level.
Both average lines continue to fall – this is to be seen as negative. However, the 100-day line is about to enter into a sideways movement.
The MACD indicator recently generated a technical sell signal. The Overbought/ Oversold indicator is exactly at zero in the neutral middle. The Trend Confirmator continues to fall, but still trades above the mark of 100 in positive territory. Among the turnover-weighted indicators, the money flow index is rated neutral at 50, while the Chaikin money flow is positive – it indicates an inflow of capital into the stock by extending into the green zone since February.
Source: Comdirect
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