By the way, great discussion on STO earlier on. I wont add another chart, but Scilliams my only comments is not to assume that it will fall back to that LT trendline? Trends are always linear & you can go broke wishing for it to fit a preconceived trendline.
Also, KB, I noted your comment earlier re the XJO thread. Those guys have a lot to offer. I also feel inadequate at times posting amongst that company, but my experience is they've always been encouraging of those less experienced who are willing to contribute - especially Volt.
Anyway, another chart. After switchmullet's post on AAM I know there's been a couple of responses already, but the more I looked, the more I liked...so thought no harm in posting the charts I'd done for myself anyway:
The weekly looks bullish with a close above the bullish trendline and 195EMA acting as support, plus MACD & Stoch looking but not confirmed bullish:
The signals on the daily have bullish confirmation, and if price can break that downtrend resistance line I reckon it'll be off to the races:
Having checked the fundamentals (surface level only) I see the downtrend coincides with the emergence of cash flow concerns and a subsequent cap raise (I think thats now completed?). Also, the gold production facility has just been commissioned & they are forecasting production of 30K ounces of gold annually. Requires a bit more research for me this one...
