Couldn't resist buying a few this afternoon. I have seen this technical setup multiple times over the past 5 months with EVN, Silver & OSH.
Looking at the technicals the Stochastics are coming out of the deep oversold territory (as did OSH this week), the RSI has bottomed out sub 30 and is now moving out of the oversold range and MACD is about to turn positive.
From a technical resistance perspective, once we see a move through the $1.72 level, this should open the door for a move back to the $1.90 range and then potentially back to test the 200 day MA at $2.21.
Looking forward to the next week ahead as we should start to see this play out!
GXY Price at posting:
$1.68 Sentiment: Buy Disclosure: Held
