balanar_NS
Long

GLDN technical analysis

TSXV:GLDN   GOLDEN RIDGE RESOURCES LTD
Good evening everyone!

Looks like GLDN is on a bullish momentum. Fresh out of a break out due to the mention of the company receiving permission to mine by the ministry in BC . That's the fundamentals for you, keep that in the back of your mind.
Let's get technical. Two HUGE bullish engulfing candles were shown to prove the breakout from the 0.17 resistance line. It peaked to 0.20 matching a previous high from December 2017. MACD and the force index are bullish (2 points for the bulls). The moving averages are somewhat neutral to me because although the 50 MA is finally above the 100 MA, it is still below the 200 MA (0 points for either the bulls or bears). If you also look closely at a wider perspective, this stock is forming a cup and handle formation.. testing the 0.17 6 times!! With that said, we are in a bullish momentum for this stock. I am setting my alarms to have my buy order between 0.18 or 0.17. 0.18 is safer than 0.17. I think we are just about to reach a new all time high ever since the drop from years ago. Thanks for reading my analysis. This is Balanar, the night stalker... I stalk these charts... day and night!

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