The six-month chart of the Canadian precious metal explorer Brixton Metals (TSX-V: BBB; WKN A114WV) shows the beginning of a longer-term upward movement in June by significantly overcoming the two average lines, accompanied by sharply increased sales. In July, the consolidation phase began, which brought the price back for a good three months below the red trend line to the massive gray support (which is above the price level before the June breakout). At the beginning of October, it was then possible again to cross the downward trend line and the two averages upwards.
Both average lines have been rising for quite some time (the 200s only minimally so far) – also positive is the still intact buy signal, which was achieved at the beginning of July – the 100-day line rose above the 200-day line and has since even further expanded the distance.
An initial buy signal was generated by the MACD (by the blue line crossing the red line upwards) as early as the beginning of September – but it weakened again and again until 10 days ago the blue line was able to move more clearly away from the red line and thus confirm the signal. The Relative Strength Index RSI ran parallel to the share price – with the beginning of the previous month, the negative trend changed and the indicator is fortunately rising again. The Chaikin Money Flow, which indicates the capital flow, also shows a similar picture. Since the beginning of the trend reversal, capital has flowed back into the stock (green zone) – however, a pause seems to be indicated at the moment. The dynamics of the upward movement are still moderate – the Overbought/Oversold indicator thus runs below the 1.0 in the area in which it previously spent most of its time. This indicator suggests an overbought rating only from 2.0 – this was reached sporadically once in May.
