Interesting trading day. We got a big boost from gold making an all time high. It certainly helped our technical picture.
https://stockcharts.com/h-sc/ui?s=SUE.TO
Looks like we made a double bottom at 1.60ish on the only two trading days that we traded above average volume since july 12th. MACD is set to cross back into positive territory for the first time in a while. We debatably broke out of our 1.60 - 1.70 trading range on the bar charts, but definitely broke out on the line charts.
Something interesting is going on with the 50 and the 200DMA. Both are above where we are presently trading. The 50DMA looks like it is about to drop into bearish territory under the 200DMA, however, if we get a nice price lift tomorrow, maybe it will only kiss it which would be extremely bullish.
If gold is in the green tomorrow I'd say our next stop is the 50 and 200DMA at 1.95 or so, we will need a fair amount of volume to break through those but if we do we could head back up towards 2.50, or complete the near perfect W pattern we are forming and break out over 2.80 in 1.5 to 2 months time.
If they stick to what they are saying we should hopefully get a drilling update within the next week, as it has been 3 weeks since our last update.
Thoughts?
GLTA