TSX:ARIS - Post Discussion
Post by
tobinator01 on Nov 05, 2023 10:33pm
Aris Chart Look - Significant Improvement
It's been awhile since I posted Aris charts. Price action has been fairly abysmal since they dropped the bomb on the market in May when they announced a fire significantly reduced gold production. They should have disclosed that earlier so as to not shock the market and invite shorts to grind the stock into the ground.
Friday was a significant day from a chart perspective blasting right through stiff resistance at 3.58. Short term $3.70 and $3.84 are where we should expect sellers to come out to stiffle the price.
Longer term things are shaping up nicely. A Bullish Double Bottom has been put in with a succession of a higher low. Longs have suffered for 3 long years and now the stock is a mere 11 cents from challenging the major downtrend line. I suspect closing over $3.85 will light up technical traders desks with a buy signal. No guarantees this will happen soon but that Thursday night special announcment is immensely bullish for the stock. It removes the negative sentiment overhang of Segivia being a short life mine.
Aris Mining 12 month Chart Aris Mining 42 Month Chart
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