Sulliden Gold Corporation Ltd T.SUE.WT

5 to 7 rule

[TAPicks]

Sulliden caught my interest last weekend when I was doing my scans because of the number of red candles it had in a row, six of them. You typically see a reversal after five to seven red candles so I added it to my watch list and I've been looking at it this week. It has resistance at $2.00, has been posting higher lows and what looks like an Ascending Triangle formation but there isn't enough candles to call it that really.

An entry here might be interesting to see if it breaks the down trend because if it does, the target is $2.43 for gains of 21.5% as indicators have started to turn upwards from an oversold condition.

See chart https://us1.campaign-archive1.com/?u=4d6d491aea8e01d93d8a1f390&id=b285737b82#SUE
For other weekly picks see https://www.ta-picks.com/WeeklyPicks.html

Cheers!

[safi61]

Hey TAP, your comments are of a black jack gambler, with no fundamentals at all.Do you know where the project is located? Why has it beeing pumped up and down for thw last six months, and why did it lose resistence at $2.00?Better do your DD right, this is not a roulette table.

[bogeyfree]

Why did it lose resistence at $2.00? What next?I would appreciate an explanation please.Thank you!

[safi61]

Two things in my view (actually 3): (i) It's still early to define a gold minable resource in Shahuindo and confirm it's economic viability, while the stock has been pumped smartly. It's just going back to where it should.(ii) All the gold bugs are leaving, as this could be more a silver play than a full gold play (gold bugs don't like silver, don't ask me why!)(iii) And last

[bogeyfree]

Thanks Safi6 1 for your quick reply,wasn't aware of your (i) point, on the contrary I thought they had found a great amount of gold with their last drilling!I knew about (ii) and (iii) except that I thought that to have both gold and silver would add more value to the stock.What's BVL?Thanks again!

[safi61]

All those gold and silver resources intercepted in their recent drilling program will have to be analyzed for economic recovery and mining feasibility before they're reflected in the s/p.Having both precious metals should add value to the company, its just that stock investors seem to go for one or the other, normally don't go for both. Why? don't know.BVL is the Lima Stock

[bogeyfree]

I'm allowing myself one last question and I thank you again for taking the time to give us your opinion.What do you make of recommandations such as COMARK SECURITIES with a target of $4.25and RAYMOND JAMES with a strong buy recommandation?Do you take those seriously?  Are they reliable sources? They must have done their DD!Why not? : Do you think it will continue to go down and if so

[safi61]

I would assume both Comark and RJ have been on the project as they normally do when they follow a stock, so yes, I do take their opinion seriously. Not always concur with them in full though. On the s/p, no one can say how much a stock will go up or down, as it depends on other peoples' fears. All one can do is be sure of our own knowledge, and with that control our own