Heritage Mining Chart Update: Trend reversal emerging – near the twelve-month high

The twelve-month chart of Canadian precious metals explorer Heritage Mining (CSE: HML, FRA: Y66)
shows a steady downward movement below the two red trend lines during the observation period. In the second half of the year, the gray line ultimately provided final support, and the green uptrend line emerged as early as December, which has already driven the price on high volume above both moving averages and to within 0.5 cents of the twelve-month highs.

Both moving average lines are now rising again—although the 200-day average has only been doing so recently and minimally.

The buy signal from the MACD indicator in December (blue line crossing above the red line) remains valid, even though it was briefly challenged for a few days. At the same time, the trend confirmer also returned to the positive zone above 100 before Christmas and has since tended to continue rising.

A breather could potentially be signaled by the Money Flow Index (volume-weighted Relative Strength Index), as this indicator has once again moved close to 80—above this value, the indicator is considered overbought.

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