Worth a look based on the current setup and risk v reward on offer here at present, a few thoughts below.
Price of gold forming up for a significant break higher based on the macro economic / geo political back drop at present. Plenty of $ in the bank ~$17mil, results pending with a relatively low EV of ~$35mil.
Volume is light on market with not a great deal of shares on offer, which may see people pay up to securer size.
Short term / daily:
MACD positive cross above the 0 control line now in effect + RSI continuing to trend higher post the oversold reading last November. Price action trading above the negative trend line and 43 day MA, both viewed as a positive. Of particular note here is the reverse head and shoulders setup at play with a 26.5c neckline. A close above this mark would signal the breakout underway. I am seeing a measured move to 32.5c in the short term.
Volume print is on track for its largest buying interest since last December.
A couple of interesting resistance levels overhead coming in at 32c and 35c as likely targets for this move.
Weekly - medium term
Taking a step back you can see the setup more clearly.
MACD trending positive on its way back to the 0 control line + RSI plenty of room to move before over bought signals start to appear.
BRV Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
