It looks ok to me. If you look at the weekly chart, it is currently sitting just above a huge Ichimoku cloud with support at about 74 cents–so you really should not get a close below that level at the end any week. That being said these small miners can act insane and there are zero guarantees with TA as you know.
Plus this one has a lot of chart damage and could consolidate at lower levels for a long time before taking off much later in the gold cycle. It is definitely a stock to trade and not to own, for now at least, IMO.
It looks ok to me. If you look at the weekly chart, it is currently sitting just above a huge Ichimoku cloud with support at about 74 cents–so you really should not get a close below that level at the end any week. That being said these small miners can act insane and there are zero guarantees with TA as you know.
Plus this one has a lot of chart damage and could consolidate at lower levels for a long time before taking off much later in the gold cycle. It is definitely a stock to trade and not to own, for now at least, IMO.
Should have said “own long term.”
To me, something like Brixton’s chart looks much better for sustained gains (although the percentage moves between peaks may not be as good.
Fundamentally in very good shape, and one of the cheaper development plays to get into production.