Hat tip to Ken Romanov for the lead on this stock. Seeing 1 year+ bullish inverse head and shoulders patterns on charts for Aurania Resources Ltd. (AUIAF). Aurania Resources Ltd., a junior exploration mining company, engages in the identification, evaluation, acquisition, and exploration of mineral property interests in Ecuador and Switzerland. The company explores for gold, silver, uranium, copper, and other precious metal deposits.

Benchmarked against the Nasdaq 100 index, we see a possible 14 month bullish inverse head and shoulders pattern with two noticeable necklines. The AUIAF:$NDX ratio has been attempting to break out above the upper neckline for the last two months.

On AUIAF’s nominal price chart, we see another inverse head and shoulders pattern with an upper neckline breakout and backtest completed. We can calculate a possible upside of 41% from the neckline breakout level of 2.6. Traders can consider using the necklines as possible stop levels if going long. For example, a weekly close below the lower neckline of 2.4 could be used as a stop. BYOFA (bring your own fundamental analysis) and good luck! -Harry