{kanada_flagge}In the first four months of the current year, the share price of Canadian gold explorer Goliath Resources (TSXV GOT / WKN A2P063) moved sideways between 0.70 and 0.92 Canadian dollars. The phase of weakness in May brought the share price close to the half-dollar level – this is where the now eight-week climb began, forming the blue uptrend line.
{kanada_flagge}In the first four months of the current year, the share price of Canadian gold explorer Goliath Resources (TSXV GOT / WKN A2P063) moved sideways between 0.70 and 0.92 Canadian dollars. The phase of weakness in May brought the share price close to the half-dollar level – this is where the now eight-week climb began, forming the blue uptrend line.
The 100-day line was sustainably overcome, whereas the 200-day line was not reached – the violet resistance zone slowed down the price (as happened in January and March, already). The 200-day line is currently falling further – this is negative – while the 100-day line is making encouraging, initial small steps upwards after a longer sideways movement.
The MACD indicator is just about to generate a technical buy signal with the upward crossing of the blue through the red line. The trend indicator has been positive for a long time, which is currently still above the neutral 100 despite consolidation. The Overbought/ Oversold indicator is clearly positive at 1.0, but still far from an overbought rating (at 2.0) as in early March and early June. The Chaikin Money Flow indicated a capital outflow (course in the red zone) after the strong price increase – this is currently decreasing again and the indicator is slowly approaching the neutral zero.
In the coming weeks, it will be important to overcome the 200-day line and the resistance zone – then the way up (initially to 1.00 CAD) would be clear from a chartist perspective.
Source: Comdirect
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