Breakout above 6 year resistance!! 50 DMA crossing 200 DMAIt’s Gran Columbia’s turn to breakout above it’s 6 year resistance! Plus, the 50 DMA is crossing above the 200 DMA which is called a golden cross for a reason. Technically this is all huge. If we can close above the $7.50 - $7.65-ish range for the week, and even next Monday for the monthly chart that would confirm the breakout, then nothing is holding it back. This technical strength is drawing much more attention to the stock from momentum investors.
As long as the sector holds in for the next few months GCM.T could easily double in my opinion. Eric Sprotts keeps pounding the table every week on his podcast saying: “Gran Columbia is the cheapest gold producer out there”. He’s one of the most accomplished and recognized gold investors, so I’d be a fool to doubt him.
I’ve been posting my technical charts on this form and posting comparisons of GCM.T since it was $3.50 back in March... saying it was a buy. Nothing has changed this stock is still so cheap! For a market cap of $477 million CAD you get GCM.T... or buy Lundin gold who hasn’t had a fully quarter of commercial production for $2.8 BILLION CAD. Tough choice.
Good luck out there.
The Alchemist