Chart Check Quimbaya Gold: All Signals Green

The share price of Canadian gold explorer Quimbaya Gold (WKN / CSE QIM) took a breather after the steep price increase in the first quarter and consolidated below the red downtrend line.

Ultimately, the two moving averages managed to halt the decline in the range of 0.35 – 0.40 Canadian dollars. As early as mid-June, the green uptrend line established itself, which brought the share price above the red line a few days ago – thus confirming the price signals that had already turned green:

the 100-day line crosses the 200-day line upwards (medium-term buy signal)
MACD indicator with buy signal (blue line crosses red line upwards)
Stochastic indicator with buy signal (blue line crosses red line upwards – a bit shaky in the last 2 weeks but still intact)
DMI indicator shows a clear buy signal, as the green line continues to rise steadily after crossing upwards over the still falling red line. In addition, trend strength is increasing (blue line rising)
Trend confirmation now back in the positive range above 100

The Chaikin Money Flow even indicated a capital outflow during the consolidation, which bottomed out in May. Since then, this trend has decreased (expansion into the red zone is becoming smaller) – for three weeks now, capital has been flowing back into the stock with an increasing trend.

Quimbaya Gold Chart — *Source: Comdirect*

Keywords

Disclaimer

I. Information Function and Disclaimer: GOLDINVEST Consulting GmbH offers editors, agencies, and companies the opportunity to publish comments, analyses, and news on www.goldinvest.de. The content serves exclusively for general information and does not replace individual, professional investment advice. It does not constitute financial analyses or sales offers, nor is it a solicitation to buy or sell securities. Decisions made based on the published information are entirely at your own risk. No contractual relationship arises between GOLDINVEST Consulting GmbH and the readers or users, as our information relates exclusively to the company and not to personal investment decisions.

II. Risk Disclosure: The acquisition of securities involves high risks, which can lead to the total loss of the capital invested. Despite careful research, GOLDINVEST Consulting GmbH and its authors assume no liability for financial losses or for the content’s guarantee regarding timeliness, accuracy, appropriateness, and completeness of the published information. Please also note our further terms of use.

III. Conflicts of Interest: In accordance with §34b WpHG and §48f para. 5 BörseG (Austria), we point out that GOLDINVEST Consulting GmbH, as well as its partners, clients, or employees, hold shares in the aforementioned companies. Furthermore, a consulting or other service agreement exists between these companies and GOLDINVEST Consulting GmbH, and it is possible that GOLDINVEST Consulting GmbH may buy or sell shares of these companies at any time. These circumstances can lead to conflicts of interest, as the aforementioned companies compensate GOLDINVEST Consulting GmbH for its reporting.