$TM.v Shares Well Positioned For Bullish Trend Continuation I expect shares of Trigon Metals (TSXV: TM) to see a bounce in the next few days as price action approaches a retest of the 200MA after making a strong cross earlier this month.
On this cross, $TM.v shares also managed to cross over the long-standing bullish support line established in April, 2021 after falling below it in January.
Given the fact that $TM.v has a huge stockpile of copper concentrate (400T) that it is currently shipping out through an offtake agreement with IXM, coupled with a fairly optimistic outlook on copper right now, I find it unlikely that shares will see another dip far below the 200MA.
On March 14, Trigon closed a fully subscribed round of private funding for gross proceeds of $1.945M to meet working capital needs. I expect to see catalysts in the form of further shipment announcements, as well as revenue reports in the foreseeable future from Trigon. Watch for shares to re-establish a trend along the historic bullish support line and to retest $.54 and $.6.
$TM.v is currently trading at $.44 and is valued at $74.65 million.
https://ceo.ca/@businesswire/trigon-closes-fully-subscribed-private-placement-financing