Chart Update Sitka Gold: Breakout from Flag Formation Opens Up Further Price Potential

In the twelve-month chart of the Canadian gold explorer Sitka Gold (TSXV SIG / WKN A2JG70), a classic flag formation has developed since the summer of 2024. At the beginning of March, this was breached to the upside, and the breakout was confirmed by the subsequent upward move (which was also accompanied by very high trading volumes).

According to chart theory, there is now upside potential, which is defined by the vertical extent of the flag formation (purple arrow) measured upwards from the breakout point.

In the proportional chart shown here, this would equate to a price of over one Canadian dollar. If one were to calculate more conservatively and use the interval scale chart as a basis, the result would be a value of 0.7-0.8 CAD.

Source: Comdirect

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