PC Gold Inc Ord PCGLF

Below Bought-Deal price

[TAPicks]

PC Gold has been in my watch list for a little while now as it came up on my daily scans a few weeks ago. I had been waiting for the indicators to turn up from the oversold condition and they had not yet. On November 11th the company announced a $5 Million Through Bought-Deal Offering (see press release here) at
.90 and since the price has dropped below the low resistance line I had which was set back at the beginning of this year.

Today's price movement triggered an alert in my QuoteTracker system as it crossed above that resistance level and had caused the inticators to turn upwards. The bought-deal offering was set at
.90 and is expected to close next week. So there's a good chance that the price will jump back to that level in a short while.

The play would then be an entry at the current price of
.74 with a stop loss at
.70 for an exposure of 5.4%. First target would be the next resistance line at
.81 for gains of 9.4% followed by
.90 for gains of 21.6%. In order to get to the second target of
.90, PC Gold will first have to break the down trend line. This will be another resistance point. So be careful as it gets there.

See here for chart and here for other weekly picks.

Cheers!