Silver Lake Resources is currently trading at $0.65 per share, which is at double top formation in May 2018. The 0.618 Fibonacci support level around 0.455 seemed to be a very strong support; the stock is currently rising for more than 12 weeks(medium term up trend confirmed) since trading around the level for the second time November.
*The stock price broke above the major resistance level on 11 Feb 2019, several days before its update on the proposed merger with Doray.
Daily and weekly MACD looking good and the price action was supported by a spike in trading volume.
My view on the Stock is bullish. Best case scenario would be for the price to trade above last year's high briefly this week and coming down the resistance line for a retest as short term indicators is showing SLR is being over-brought.
I'm considering increasing my exposure to SLR/DRM then. Any ideas?
*The stock price broke above the major resistance level on 11 Feb 2019, several days before its update on the proposed merger with Doray.
Daily and weekly MACD looking good and the price action was supported by a spike in trading volume.
My view on the Stock is bullish. Best case scenario would be for the price to trade above last year's high briefly this week and coming down the resistance line for a retest as short term indicators is showing SLR is being over-brought.
I'm considering increasing my exposure to SLR/DRM then. Any ideas?