Chart Update Cerro De Pasco Resources: Five-Year High Surpassed

What was predicted in the May 6 chart check has materialized with strong momentum: The share price of the Canadian metal explorer Cerro de Pasco Resources (WKN A2N7XK / TSXV CDPR) massively broke out of the triangle (the last element of the blue flag formation in the five-year chart) to the upside and surpassed the highs from 2020 to 2021.

Currently, the 0.50 CAD mark appears to be the new support. The validity of the flag is supported by significantly higher trading volumes since the flag’s inception. The chart-technical upside potential of the flag (vertical extension of the formation projected upwards from the breakout point) has not yet been reached.

On the other hand, given the new high and the breach of the round figure, a consolidation phase would certainly be healthy for further price development.

5-Year Chart Cerro de Pasco Resources — *Source: Stockcharts.com*

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