Now that's what i call a discount ! CKG is trading at bottom basement prices here... almost free for a company with a massive gold and silver deposit . Add that one to my bucket !
chesapeakegold.com
Mail shareholders still is this stock. Management reinforced and Mr Pangbourne with a lot of money in this stock.
Consolidation ongoing, and with rising silver prices, this stock is going to explode - as hit has done years before.
Falling wedge, sinking volatility best signs.
Target first an min. 8 usd in 2022.
Cheaspeake Gold Corp. has done a long period of consolidation.
Since August 2020 shareholders have seen descending prices. But - it seems, that most of them have lot of patience.
Various breakouts are done - missing only break-out of slow stochastic.
As normal, a sharp break-out of a descending Wedge is normal, as a correction afterward maybe back to breakout...
Technical Analysis
1. Pennant Pattern
2. Large Head & Shoulders
3. Fibonacci Retracement at 0.618 (Golden Zone)
4. Potential Pennant Breakout (incoming)
5. Fibonacci Expansion Safe Take Profit Level 1 (Grey Zone) Also the length of Flagpole
1st Take Profit: 7.00
ETA for Take Profit would be End of 2021 or Early 2022
This company will come out big, here's some...
Chesapeake Gold did a spectacular first move.
Now, consolidation phase has been set and is ongoing, harder than Silver has been hurt.
Weekly Chart shows an impressive falling wegde, corresponding with RSI & Slow Stochastic.
But:
Investors are still believing in this company.
OBV looks very stable.
No question:
Patience is required, suppose till april 21...
Due of fine consolidation pattern combined with possible 1-2-3 EW structure
very interesting situation.
Solid bottom established long time.
Yesterday also news published: New CEO, cooperation with technical company.
Looks very interesting, also due of strong Investors Skills (Mr. Sprott)
Dan
Im really liking how we are staying above the 200 SMA- looks like we want to break out of this channel any day now
4.51 next resistance (50% fib) then 4.66 (Aug 2019 high). 200 SMA support at 4.36.
