Double Creek Mining DCM-Vancouver Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Double Creek Mining DCM-Vancouver

DCM 36.13

0.0%

Mar 11 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Pete who wrote (21)	4/9/1997 2:52:00 AM
From: Postman	of 49

Here is a chart analysis of DCM from another website: DISCLOSURE: Thanks for insight about LBG. As requested - here's my chart report on DCM on VSE: Daily chart indicating possible breakout. DeMark indicator giving a buy signal. Going back thru the data, since Jan 1996 this DeMark signal was an extremely accurate advance indicator of a trend change upward. On the Weekly chart DeMark indicating a bottom formed and indicator moving upwards towards a buy signal. On both the Daily and the Weekly the downtrend resistance line was broken yesterday with confirmation up today. Using April 03 a flagpole the price formed a small flag (pennant) pointing upward - also bullish. Volume has also been rising as the stock price was closing at highs - again bullish. Major support level at $0.35 which means very little downside. You have resistance at $0.50 which though significant, was broken thru in Feb and Mar. Next resistance level at $0.60. If it does not lose steam in $0.60 range then she'll likely move thru next (but weaker) resistance at $0.70. Then it's a quick and easy move to $0.90. This issue cycles. Major cycle if maintained indicates that price should stay on uptrend for about 6 months. Within the major cycle, there seems to also be a minor cycle lasting approx 1 month. These monthly swings move about $0.20. Depending on your brokerage cost, then you could play the monthly minor cycle and try to catch the $0.20 swing (around 30%) - that would have worked through-out 1996. This monthly cycle is still there in 1997 but has gone thru a phase change as long term bottom formed DEC/96-JAN/97. The only fly in the ointment is that even though the volume has been increasing, it is still TOO LOW. Volume must move above 100,000 for impact. Near term I suspect that issue has broken out - likely top at around $0.65. Long term this looks like a safe bet for another 5 or so months of further Uptrend. Longer term likely Top around $1.20 (or higher). If you play this issue on short term flip basis, then once the price moves a tad higher you can use a 20 day moving average to set your sell stop. This has tracked moves upward very well in1997. Such a stop is quite tight but should not wipsaw you out of move. Being tight it will protect your profits. Using Support Trendline breaks would also work easily but you have to wait too long for them to form. If you're playing this issue longer term then try using 55 day or 89 day moving average to set your sell stop - long term you don't want to get wipsawed out of play. Anyhow, Looks like this has the potential of a nice play both short term and long term, with the benefit of minimal downside since your're catching the wave as it bounces up off the bottom. Hope this helps.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next