Top up or miss out, page-1913

So week 1 from this call we landed with 2 pips.

Week 2 (today) we landed flat and consolidated nicely on the charts. The Daily chart is now looking primed for the next move:

Daily Time Frame:

• Resistance present at $0.041 and $0.042 (0.618 fib) then a bit of room to the 4 week high at $0.046 (0.786 fib) then $0.050 and $0.054 (52 week high) are the next logical chart points.
• Uptrend still intact with support since March unbroken
• Support at $0.038 (trend and 0.5 fib extension) offering good near-term protection
• Volume has dropped below the 50 day average as the market settles into an equilibrium
• 2 week trading range established between $0.038 - $0.041

• MACD eased down in the upper range and leveling out from a downturn - neutral signal
• RSI back in the neutral zone, turning upwards - soft buy signal
• Stochastic (probably my favourite indicator for BCN) is in the lower bounds with fast crossing up on slow - buy signal
• OBV is flatish, but still leaning bullside slightly - neutral signal
• EMA's (20,50,100,200) remain stacked upright with share price trading above - buy signal

Weekly Time Frame:

• Trend remains intact, although a dragon fly doji is indicating the current trend is ending and needs new impetus to continue - soft sell signal
• MACD is around an equilibrium level, but showing bullish on the fast still - neutral signal
• RSI leveling out in the upper bound of the neutral zone - neutral signal
• Stochastic easing down from the overbought zone into neutral, with fast crossing down on slow this week - sell signal

• OBV in uptrend - buy signal

Ichimoku (daily):

• Price crossed up on the conversion line today - buy signal
• Baseline trending upwards - buy signal
• Lagging span in open air - buy signal
• Future cloud is green and in an uptrend (Span B remains flat, establishing a strong support at $0.034) - buy signal
• Share price trading above the cloud and future cloud - buy signal

Summary:

Some mixed signals with the daily leaning neutral/bullish and the weekly leaning neutral/bearish, reflective of the trading channel we are starting to see on the daily. Long-term holders will likely agree that we are still significantly under fair value; however, the broader market is still seemingly largely on the fence. The monthly production update will likely be released on Monday, which absent any unexpected news may see us consolidate further the next two weeks or so as we await the news on the Panther tenement resource upgrade. Although, a solid production report showing more of the same, combined with the imminent resource announcement may be enough to build some new momentum - if only there were some way of spreading the good word to the broader investment community. A fledgling junior producer looking at an annualised $40m gross profit must surely be due some love soon.