Chart Update Cerro De Pasco: Breakout from Triangle to Six-Month High

The breakout of the Canadian precious and base metal explorer Cerro de Pasco Resources (WKN A2N7XK / TSXV CDPR) from the triangle formation, as predicted in the chart check on May 6, has materialized shortly after the analysis. The lower leg of the blue triangle has since continued upwards and now acts as an upward trend line. Since yesterday, the six-month high indicated by the gray line has also been overcome

The 200-day moving average is steadily rising, whereas the 100-day moving average, after declining in March and April, has only been moving upwards again since mid-May.

The MACD indicator weakened slightly in the twenties of May but did not generate a sell signal – thus the buy signal from April still holds. The Chaikin Money Flow is notably strong, indicating an almost continuous inflow of capital into the stock by its course predominantly above 0.0.

Source: Stockcharts.com

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