As volatility remains low on Sonoro Gold $SGO/$SGO.V’s charts I’m anticipating prices to approach and test the 50MA and reveal signs of a swing.
The last time prices crossed over the 50MA, $SGO went on a solid 85% run. As shares are currently consolidating near previous resistance, established before the last bullish run, conditions are looking promising to see similar price action should the right news regarding $SGO’s Cerro Caliche Gold Project give a strong catalyst to push prices over the 50MA.
$SGO has commenced the next phase of drilling in its planned 10,000-meter campaign at Cerro and is strongly anticipating a highly successful completion of the program.
$SGO CEO recently stated, “The wealth of technical data amassed to date suggests the potential to increase the resource within the project’s known mineralized structures as well as the potential for higher grade and extended mineralized structures identified through scout drilling and surface sampling.”
Shares of $SGO are currently trading at $.165 and the company is valued at an MCAP of $20.87 million.
https://ceo.ca/@nasdaq/sonoro-announces-closing-of-3000000-private-placement