Postive TA The guy who wrote this has been very accurate in his TA with Blackpearl, hope hi is right about SNM to.
Nice to have this as well as at4 in comming weeks, the testing after TD shouldnt be that long due to the nature of this particular well they are using MWD.
//Him who will be here until exit
TA
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If we look at Canada graph has the stock has a recoil down from the top and bottom 0.55 0, 36, 5 by 50% (fibonacci numbers) which becomes 0,458 CAD, and that means in Swedish SP 2.66 (cad 5.81 SEK).
Same top but the bottom from 1/4-13 that was 0,305, 0.457, which becomes a recoil of 38.2% with SP 2,655 SEK in the Swedish SP.
We also have an upward trendline fom the beginning of May-13, which is backing down, which shares hit and we turned on Friday.
It is not uncommon for a rebound rebounds by 50% which is necessary for a continued rise so that new investors feel that the SP is buyworthy.
The RSI indicator was down by 31 and has now turned up to 35, but the share is of course still firmly oversold.
Next resistance is 2.70 SEK (0,465 CAD) and 2.74 SEK (0,472 CAD), where we also have the 50 day average.
If the SP passes that level we will probably get a jump. The stock is likely to have a very positive development in the near future.
With kind regards
Holma