Will we breakout from this current channel or fail to do so?
If this fails, expect this stock to just move within the current channel.
I also show why 1.35 is the actual next resistance, should we break from this channel.
Just moving along the Upwards Trendline for now. Bear in mind, this company hasn't made a single profit. But has a great balance sheet. Will take a long while, before it can produce gold.
One possibility is a potential sale of the discovered mine. But the company needs many more drill reports, to verify the size of the find.
10day MA has cut over the 50day MA. But a head and shoulders pattern could also be forming up.
Notice the RSI is also shifting up and may have to correct after 2-3days.
Further uptrends or a Head & Shoulders forming soon?