GREY:HRIVF - Post by User
Post by
scissors14on Oct 02, 2010 1:15pm
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Post# 17521656
High River Gold Mines Limited Up another 4.65%
High River Gold Mines Limited Up another 4.65%
Print This Post | Topic: Gold Mining Companies — October 1st, 2010
High River Gold (HRG) continues to make very good progress as the above chart shows. This stock closed today at $1.35 on increased volume which is always a positive sign. The RSI is standing at ‘79' which puts it in the overbought zone and no doubt some will be tempted to take profits at these levels. The MACD and the STO are also suggesting that HRG should take a breather at this point and it may well do so.
However, if you take a look at any number of gold producing stocks you will probably see the same thing. Gold prices and also silver prices have been on a roll and dragging the stocks along with them. We expect the metals to keep going so this overbought state of many stocks could be with us for some time. We can apply the same thinking to HRG.
We are still holding on to our position in High River Gold Mines Limited and have no intention of selling any of this stock in the foreseeable future.