The twelve-month chart of the Canadian copper, gold and silver explorer Brixton Metals (WKN A1J09P / TSXV BBB) moved downwards for seven months below the red trend line after the top in June of last year, down to the grey support line, which already marked the bottom in May. In mid-January, the current upward momentum began, which was able to overcome the red line as well as the two averages with significantly more volume than in June. With an increase of almost 100% overall, the share price closed yesterday at CAD 0.10.
The two average lines have been rising again for a few days – however, the 100 is still below the 200 – if the positive trend continues, a buy signal like at the beginning of July could arise again soon.
The MACD indicator was recently able to generate such a signal (the blue line crosses the red line upwards). The more complex DMI is also clearly positive: with the green line, which continues to rise, crossing the red line, the indicator is on buy – in addition, the strength of the trend (blue line) has increased since then.
Since the beginning of the year, capital has been flowing steadily (and increasingly since then) back into the share – this is signaled by the Chaikin Money Flow through the course in the green zone.
An overbought status like at the time of the last top is not yet indicated by the Money Flow Index (turnover-weighted Relative Strength RSI). At over 60, it is already clearly positive, but still significantly away from the overbought mark (from 80).
