Chaikin Money Flow indicator shows capital inflow
The six-month chart of Canadian magnesium explorer West High Yield Resources (WKN A1J5LQ / TSXV WHY) broken through the purple downward trend line shortly after the beginning of the year – the blue upward trend line that has existed since September has thus prevailed so far.
Currently, the price is still waiting to break through the 200-day moving average, which has been running sideways since July, at 0.27 Canadian dollars. The downward breach of the 100-day moving average (which occurred in October) is to be viewed negatively. However, the 100-day line was able to turn back upwards shortly after New Year.
The indicators as a whole point to a slightly positive trend. For example, the MACD signal and trigger lines have been virtually identical for many weeks and can therefore be considered neutral. The trend confirmer has been able to remain almost exclusively above the 100 mark in positive territory since October – and is currently rising again.
A clear, positive signal comes from the Chaikin Money Flow, which has been indicating a capital inflow into the stock for over a week now through its movements in the green zone. The Overbought/Oversold indicator has so far three times reached values that came close to an overbought signal (from 2.0), but these were quickly reduced, as they have been currently – the indicator is currently in the neutral mid-range at 0.75.
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In accordance with §34b WpHG and §48f Abs. 5 BörseG (Austria), we would like to point out that GOLDINVEST Consulting GmbH and/or partners, customers or employees of GOLDINVEST Consulting GmbH hold shares in West High Yield 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, which may affect the price of West High Yield Resources shares. In addition, GOLDINVEST Consulting GmbH is compensated by West High Yield Resources for reporting on the company. This is another clear conflict of interest.
