Afternoon all,
I hope everyone is having a great Australia Day.
First of all, this is not investment advice, It is just my personal view that I would like to share.
I have no experience with charts or charting, hopefully
@DarkCloud08 can provide some assistance.
Back in October FGR had a
daily golden cross, A golden Cross is when the 50 average crosses the 200 average. It's very positive and shows a change in momentum,
FGR's
Daily Golden Cross has resulted in the SP climbing from ~16c to 32c (current SP)
View attachment 2850256I watched the following 20 minute video about ASX:EGR (chart), it references the
weekly golden cross that EGR has recently seen, well worth watching, this guy is very good at charts.
After watching the video, I thought, EGR recently had a
daily golden cross and a weekly golden cross has just occurred. I better check out FGR's.
The following chart is FGR's
Weekly chart with the 50-weeks and 200-week moving averages.
As you can see, FGR has a
Weekly golden cross that occurred around the 1st of Jan 2021
View attachment 2850295To give you an indication of 2 companies that have recently seen a
Weekly Golden Cross,Hazer - ASX:HZR - SP increased from 42c to $1.80 with 9 months.View attachment 2850314Talga Weekly Golden Cross occurred in August 2020, the
SP was ~62c and rose to $2.15 in 4-5 months.View attachment 2850323Why am I excited, I have 2 stocks that have just seen a weekly golden cross. If these stocks see the gains that Talga or Hazer have recently seen I will be thrilled.
FGR's last price sensitive (development) was back in September 2020, the other price-sensitive news that has been released through the ASX is regarding regulatory announcements or announcements regarding the change in the CEO.
We have numerous developments that are due to be released to the ASX along with pending sales.
Good luck all.
