The share price performance of Canadian gold explorer Avanti Gold (CSE: AGC; Germany: X370) has confirmed the further upward movement anticipated in the previous analysis.
The 100-day line consistently served as support—as did the thicker green trend line running almost parallel to it. Since the beginning of the current month, the steeper green trend line has formed, which has now led the share price above the six-month high with significantly increased volumes.
Both moving averages continue to rise uninterrupted—moreover, the 100-day line is still running well above the 200-day line, which is encouraging.
Two weeks ago, a buy signal emerged in the MACD indicator (blue line crosses red line upward), which remains clearly valid. The trend confirmer also shows a positive development, moving further upward in the positive range from the neutral 100.
An overheated situation cannot be identified based on the Overbought/Oversold indicator—with a value of 1.0, the indicator is in the middle of the positive range and thus still far from 2.0 (from which point it would be considered overbought).
