NOW, I agree. Hard to find a worse looking gold stock. it pains me and humbles me to be so wrong on a gold stock in the middle of a gold rush. i thought this thing would be shaping up great this fall, and it has been nothing but a DAWG! i am glad i am out. at least i did that before it got too painful. by the way, for anybody holding those warrants, they are now severely overpriced, way over double the stock price. they should be sold while you can get high 30s for them, in my now humble view.
the On Balance Volume chart above the price chart shows distribution, both daily and weekly. what we want to see is a stock that has gained some stability, maybe not moving up yet, but the daily obv is picking up steam, showing accumulation. this is the opposite of that.
WEEKLY BASIS, stock falling beneath one year moving average, which i assume means below support. (That blue line is a 50 week moving average on the weekly chart).
stockcharts.com
ON DAILY BASIS, stock is already indecently below both 50 and 200 day moving average.
stockcharts.com |
