Chart update American West: Ten-week correction phase ended – things are looking up again

The North American-based Australian copper and indium explorer American West Metals (WKN A3DE4Y / ASX AW1) jumped to almost ten Australian cents at the beginning of October after the low prices in August and September. Below the red trend line, a ten-week consolidation followed, which led the price to the two average lines, which impressively prevented a further slide.

At the end of the year, the now ongoing massive upward impulse started, which led to over 0.06 AUD with partly increased turnover.

Both average lines are now also rising – the 100 line was even able to generate a medium-term buy signal six weeks ago by crossing the 200 line.

The indicators show buy signals: these were given by the stochastic and MACD indicator (in both, the blue line crossed the red line in an upward direction).

The Chaikin Money Flow is now positive again – the jump into the green zone indicates the inflow of capital into the stock.

Chart American West with indicators — *Source: Comdirect*

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