Chart update Avanti Gold: Two-month downward trend channel significantly broken

The share price of the Canadian precious metal explorer Avanti Gold (CSE: AGC; Germany: X370) has been moving downwards within the red trend channel since the beginning of the fourth quarter. The 100-day line then proved to be a clear support upon initial contact in the last third of November. After a few days along the 100-day line, the price was able to rise again and break out of the trend channel upwards. Since then, it has been in an upward movement above the green trend line.

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

MACD indicator with buy signal for Avanti Gold

The MACD already generated a buy signal at the end of November (blue line crosses red line upwards). At the same time, the DMI also succeeded in doing this (here the green line crosses the red line upwards) – since then, the strength of the new trend has been on the rise (blue line continues to rise). In addition, the Chaikin Money Flow has been pointing to an inflow of capital into the stock again since the beginning of the month due to its course in the green zone.

Chart of Avanti Gold with indicators — *Source: Comdirect*

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