Chart Update Brixton Metals: CAD 1.00 Mark Reached and Held – Uptrend Intact

The share price of Canadian copper, gold, and silver explorer Brixton Metals (WKN A1J09P / TSXV BBB) began a steep upward movement after hitting a low at the turn of the year, lasting until the end of January, during which both moving averages were easily surpassed. Since then, a consolidation has been underway, with the level around (or rather above) CAD 1.00 ultimately forming the new base. The repeatedly confirmed green uptrend line also supports further upward movement.

Furthermore, a (purple) flag formation can be derived from the chart, which, upon an upward breakout, would activate a price target of approximately CAD 2 – measured by the vertical extension of the formation from the breakout point upwards.

Both moving averages have been rising again since mid-January – however, the 100-day average is still below the 200-day average. If the trend continues, a buy signal (100-day crossing 200-day upwards) should emerge again in April.

The MACD and Stochastic indicators have already generated this (in both cases, the blue line crosses the red line upwards). The trend confirmer also took the first step back into positive territory today by slightly exceeding the 100 mark.

Brixton Metals Chart with Key Indicators — *Source: Comdirect*

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