DML about to create a golden crossIt will happen in a matter of days. Golden cross is considered a bullish buy signal. The situaion of DML has been a bit different it is stuck in a range & every few months it creates death & golden corsses.
Goldern cross was created in Spet 2012. Death cross Nov 2012. Goldern cross Feb 2013 death cross again in April 2013. Now there will be another goldern corss this month.
If you look at the chat for one year it has made four cups. The first one wa very deep as the stock created a low of $1.05 the last there cups have been stock bottoming out around $1.15 to $1.24.
The last cup base was higher that the previous one which is relativley positive.
For the last year anyone who has traded these cups or the ranges has made money on this stock. The question is will this situaion change with the new golden cross. In stock maktet everything is possible. Sepcailly if Japan restarts reactors soon.
With spot prices drifting low & now testing $36 & if Japan does not restart soon U stocks are not going up in a hurry.
I would still consider this stock as range bound even though U stocks at this time are defying the decline of U spot price. The spot price has dropped from $40 to $36 in a short time but U stock have not taken any beating. I have no answer or explanation for that expect that Us markets are creating new highs & Canadian markers are finding a base. I am surprised that with tanking of U spot prices U stock have not yet come under pressure. I have no idea at what price it will trigger sell off.
I have been trading DML & will continue to tade this & other U stocks but will not buy & hold yet. I consider DML a good trading stock.