Southern Cross Gold Consolidated Ltd V.SXGC

Descending triangle in volume for SXG

[Benny007]

Since the big jump in the share price for SXG on May 10, here are the daily volumes :

May 10 : 1.61 M
May 13 : 1.06 M
May 14 : 794k
May 15 : 409k
May 16 : 442k

forming a nice descending triangle in volume, while share price went from $3.21 to $2.83 (-12%).

Daily volume is now back to where it was (in average) before the pop in price, so this could mean that profit taking might be over soon.

If so, share price could be on the rise again, specially if volume picks up nicely. JMHO

GLTA,

Benny007

[Benny007]

It seems like last Friday was the reversing point for SXG in Australia with a price in the low 2.70s and volume at 312k, well below daily average. Today's volume (Monday) was very low again (340k), but we saw a nice +5% in the share price from 2.73 to 2.88! As of now (Monday night here = 10:30 Aussie time on Tuesday), we are already at 96k shares and climbing well in the mid 2.90s. If