Aris Mining Corp T.ARIS.WT.A

Chart Review, 1.4 million

[tobinator01]

The trading in Aris has been a thing of beauty, today was no different.  Combined volume in Canada and USA today was 1.4 million shares.  It appears to me that institutions are dueling each other to accumulate the stock.  


ARIS.TO Short Term

ARIS.TO Long Term

US Ticker ARMN

[EagleHasLanded]

Thanks for the charts. It seems to be on top of the trend channel. So maybe some consolidation here or a bit lower? Maybe a reaction down when it honors the top? Or maybe break out?

[tobinator01]

When you see two resistance lines converge, this is where one would expect for shorts to pile in against the stock.  The shorter resistance line and the blue support line are narrowing, which presently is a Bearish Rising Wedge.  Their Apex point is out a fair bit in time, meaning the Wedge isn't terribly powerful. What would be very healthy is the stock pausing and chopping

[a2bman]

So tobin, what your saying is, dont worry about the shorter resistance line, the blue support narrowing, the bearish rising wedge, the apex point, chopping sideways for a week, the overbought pressure, the shorts and instiutions and all that chart analysis and just watch the price of glod?

[tobinator01]

Boy, I wish it was just as easy as watching Gold.  The resistive trendlines and Bearish Rising Wedge flash caution and the present price is a good place to add a short.  The outside potential outlier is the price of Gold, which has an over-weight influence on Gold miner equity prices. Should Gold shoot up to $2400 (spot Gold at $2342 presently), with the bullish underpinnings of high