Loading ...Americas Gold & Silver
I’m just trading the chart. I bought the breakout. So far it’s a hard backtest of that breakout. A weekly close below $2.90 would change things though, and a monthly close below that level would be a problem, at least in the short term…
A classic shakeout could be on the cards with a sharp drop below that (now) support line, followed by a rocket-type reversal before month end. Tricky.
So ,at least technically ,you see this stock to reverse on the upside in a not distant future…have I interpreted your thought correctly?
Fundamentals mixed for the moment, they have moved commercial production of the Relief Canyon mine to December if I am correct. Next 6 months will be crucial.
IMO this is a better interpretation of the chart action. A successful BT today right off the line
https://stockcharts.com/h-sc/ui?s=USAS&p=W&yr=4&mn=6&dy=0&id=p55253707808&listNum=1&a=577433042
Also major funding announcement — 9M shares –> $35M Cdn @ $3.86/sh –> Overallotment to 10.5M shares to ~$41MC.
https://www.globenewswire.com/news-release/2020/08/18/2080068/0/en/Americas-Gold-and-Silver-Announces-Upsize-of-Previously-Announced-Bought-Deal-Financing-to-C-35-0-Million.html
Also note: Delay of Relief Canyon commercial production to end of 2020 may also impact SSL gold receipts under streaming agreement with USAS.
All the comments and charts are well and good. No real movement in 6 years. Maybe finally this thing moves into a new gear!
Trading below the EMA30WK…?
??? No its above a rising 30 W EMA… that’s what one wants
Your right I was looking at the 30 day at 3.10… weeklys 2.65