Chart update Avanti Gold: Consolidation phase ended – uptrend is in place

The share price of the Canadian gold explorer Avanti Gold (CSE: AGC; Germany: X370) has ended its consolidation phase after the October high. The downward waves below the red trend lines each ended at the long-term green upward trend line and the almost parallel 100-day line.

Two weeks ago, the upper of the red lines was also overcome – accompanied by a buy signal from the MACD indicator – and the share price is approaching the high point from October again.

Both average lines continue to rise – in addition, the 100 line is fortunately still clearly above the 200 line.

The Chaikin Money Flow has been consistently (and increasingly) in the green since the beginning of December, indicating an (increasing) inflow of capital into the stock.

The stock is still far from being considered overbought – according to the Money Flow Index (turnover-weighted Relative Strength RSI), this would be the case from values of 80 (see the end of September).

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