Portofino Resources (TSXV: POR) recently announced its receipt of an official Resolution from the Minister of Water, Energy, and Environment of Catamarca for the Yergo Linthium Project in Argentina. The Resolution issuance has been deemed to be the Mining Ministry's last requirement pursuant to approval of Portofino's planned exploration and drilling programs.
Following this announcement, I am seeing the potential beginning of one of my favorite bullish indicator convergences on POR’s chart. With the 50MA beginning to flatten and showing signs of an inflection, the range of the CM SlingShot band is also narrowing as it crosses above the 50MA, showing a potential incoming buy indicator.
Nearly every time the CM band crosses with a buy signal (green) over the 50MA on an inflection, a big jump in share price is seen. This is not true just for POR’s historic chart, but for almost every chart I have seen.
With POR now ready to get the ball rolling on permitting and drilling at Yergo, this convergence of technical indicators all but guarantees an impending SP recovery IMO.
POR.v is currently trading at $.075, valued at $8.22 million.
https://ceo.ca/@newsfile/portofino-reports-issuance-of-environmental-resolution