This time is different... let me explain.
We had a buy signal on BCN in August last year and I thought it might have started a little run that may have gone into the New Year in anticipation of the JORC upgrade. However it turned out to be a false signal.
This time we have the same situation developing on the chart with two key differences:
1. Fundamentally - We know the JORC announcement is due next quarter and it has the potential to increase the resource substantially. BCN is a potential low cost miner and a large resource with the current gold price will underpin a significantly higher market cap.
2. Technically - The weekly chart looks great again with the MACD, money flow and stochastics crossing up. But here is why it is different; this is also set up on the monthly.
I think this is the run we have been waiting for.
chart - this time is different!
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Last
2.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $92.98M | |||
| Open | High | Low | Value | Volume |
| 2.2¢ | 2.2¢ | 2.2¢ | $62.15K | 2.825M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2029997 | 2.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.3¢ | 919661 | 4 |
View Market Depth
| Last trade - 10.03am 11/11/2024 (20 minute delay) ? |
| BCN (ASX) Chart |