The stock price of the Canadian gold explorer Quimbaya Gold (WKN A3DT3C / CSE QIM) fluctuated between 0.4 and the seemingly insurmountable 0.5 Canadian dollars from May to October. After the winter bottom formation at around 0.3 CAD, the price rose rapidly from February with significantly increasing volume, consistently above the blue trend line, and briefly managed to crack the gray resistance line at 0.5 CAD in March. The subsequent consolidation was stopped by the blue trend line and the 200-day moving average. Currently, another attempt is underway to overcome the 0.5 CAD mark. During May, the blue trend line will reach this resistance – it’s getting exciting.
Both average lines are now rising, with the 100-day line already quite steep, which could also succeed in overcoming the 200-day line in May, thereby triggering a buy signal.
The MACD indicator has already achieved this – here the blue line crossed the red line upwards. For the trend confirmer, the brief dip below the 100 mark has already ended – the indicator is once again in positive territory. The Chaikin Money Flow continues to present itself clearly positive, indicating a steady inflow of capital into the stock through its unbroken course in the green area since January. Recently, the Money Flow Index (volume-weighted Relative Strength RSI) approached a value considered overbought (70-80), but for four weeks now it has been going downwards again – with a value of 50, this indicator is currently considered neutral.
Source: Comdirect
