Chart Update Sitka Gold: Correction at the Uptrend Line Ended

The chart of the Canadian gold explorer Sitka Gold (TSXV SIG / WKN A2JG70) shows a consolidation running below the red trend line after the steep rise in the summer, which led the share price back to the blue trend line. This (repeatedly) and the round mark of one Canadian dollar offered massive support – in the currently ongoing rebound, the share price was already able to overcome the red line again with increased sales.

Both average lines are rising steadily, which is just as positive as the fact that the 100 continues to run above the 200 – everything is fine here.

While the MACD indicator probably still needs a few days to generate a buy signal, the Stochastic already succeeded in doing so a week ago (blue line crosses red line upwards). The trend confirmer has also just turned upwards into positive territory again – exactly on the neutral mark of 100.

Chart of Sitka Gold with indicators — *Source: Comdirect*

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