Reading ChartsNice price action this week and better mood should prevail for rest of the month and hopefully will extend into February
Daily Chart The Good: After last week breakout we got confirmation and follow up. We managed to reach Resistance around 0.61 and… paused. What’s not bad in general. Momentum is Back and this could be most important factor in life of the junior’s play. We are trending above 5/9 days EMAs (0.55/0.53) Support at lower trend line around 0.49-0.51. We have to breach October’s high (0.71) on the way up to become really bullish. This can take some time or one good news (real news like positive numbers).
The Bad: Well, nothing really. CCI is curling lower indicating some weakness is coming and Stochastics might be following same pattern. This looks like a temporary action
Pay attention to Kama and TSI. Price moving bellow Kama with Loosing momentum should be a Sell Signal for everyone who likes making money and is NOT a believer.
And the Weekly Chart https://i.postimg.cc/Gm2yTNwh/RHT-Weekly.png The Good: Moving Up. RSI and CCI and Stochastics are pointing and moving UP. We have to move above 0.71 to see some real potential turnaround. And finally momentum on weakly chart is curling UP. Support at EMAs 0.52/049 and trend-line support at 0.44
The Bad: Well, nothing really
On the
60 minutes timeframe we might be flagging up what is good for the future of daily picture.
So, last week I was not jumping with joy entertaining a decent dosage of healthy skepticism. Today being far from euphoria but seeing positive changes in TA picture I’m starting having more positive bias towards the company.
I don’t have a target. Neither short or long term. There is a lot of resistance up front and we have to take day by day.
Just remember that profits for many are just short term market loans and Mr Market can call in loans any time. I’m sure that many members ( I know one myself) who bought in 0.30-0.40 and rode the price to 2.50 and back to the last year lows - make sure you have an exit strategy
By the way I didn't have a time to review latest Sedar docs mentioned on the board already by
yamagishicatich Happy Trading