Chart update Sitka Gold: Indicators just before turning points

In the twelve-month chart of Canadian gold explorer Sitka Gold (TSXV SIG / WKN A2JG70), the two indicators that relate to the price dynamics show values that are (almost) at the twelve-month low and, according to their respective definition, can be considered as oversold.

Thus, the Overbought/Oversold indicator is already in the oversold negative range and close to the low point of May, which was followed by a sustained increase in the share price.

The Money Flow Index (volume-weighted Relative Strength RSI) wenteven further down than at the January low and, with a value of less than 30, it is oversold by definition. Here, too, a sustained increase followed at that time until May – then even further.

Still positive is:

the green trend line remains unbroken
both averages continue to rise – the 100-day average is fortunately above the 200-day average

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

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