Columbus Gold Corp CGTFF

Price patterns

[eebler]

Assuming the whirlwinds surrounding The Donald don't create any "more" havoc than they already have, and we don't see a buyout offer any time soon, the share price of CGT appears to be tracking a descending price channel similar to last year's share price pattern.  If the pattern holds to course, that could mean that by late June or early July the sp could touch down in the 65-70 cent Cdn range, setting up for a great buying opportunity as gold enters is typical period of seasonality.  

For those in for the long-term, that would be a good period to watch for getting shares on sale.  Or for those that are doing medium term momentum trading, it would set up for a good pattern that looks like it might repeat every three months or so.  It has been a couple of relatively easy trades since the peak in Feb to buy CGT whenever it drops below 80 and then wait for it to bounce.  

We probably won't see the sp touch down at the same point it did last December, but assuming there is no buyout offer this year, there were alot of people that bought shares in 2017 at prices higher than the current sp.  It is only May, but this pattern could be setting up CGT for a tax-loss induced drop in the Nov/Dec timeframe.  I know that is really far out to consider, but last year CGT could be had on Dec 20 for more than a 50% discount to its peak in August.  It is some long-term planning, but if you are in CGT for the long-run, then it makes sense to pay attention to some of the much longer-term patterns that can be taken advantage of to load up on CGT as and when it goes "on sale".  

GLTA