The six-month chart of the Canadian precious metals and copper exploration and development company Norsemont Mining (WKN A2DN0Z / CSE NOM) shows a clearly rising trend in the share price. The sharp decline in the price during March ultimately did not change this: currently, a gain of approximately 50% since October remains on the chart.
The 100-day line has served multiple times as support for the upward movement since the beginning of the observation period. Only the correction in March caused the share price to fall below it—however, it was able to bounce back up significantly and sustainably from the 200-day line. It has since been running above the green trend line—now clearly above the 100-day line as well and approximately 50% above the October prices.
Both moving averages are rising steadily, and the 100-day line remains encouragingly well above the 200-day line.
The buy signal from the MACD indicator (blue line crosses red line upward) from the beginning of the month remains intact. The Chaikin Money Flow has also shown positive development since mid-January, indicating a continuous inflow of capital into the stock through its persistent movement in the green zone (although significantly reduced recently). The Money Flow Index (volume-weighted Relative Strength Index RSI) could also represent a brake on further price decline—it is trading at the lowest level of the past six months and, by approaching oversold territory (below 30), could indicate an upcoming upward reversal.
