ta update

As requested by magix I've decided to provide a fresh chart with commentary.

Roughly from a TA perspective PXG has broken out of its uptrend leaving a gap at around 31c. Supply came in around the 36-38c area making it our new resistance to beat and we saw a retrace on lower volume to horizontal and diagonal support at 30c, filling the gap in the process. Over the last few days we've bounced stronger and much earlier than the wider gold sector which has been encouraging as we appear to be in continuation of a new leg up in PM stocks. Also, volumes have been bullish ie. volumes on upbars have been greater than that of downbars.

Overall I think we'll see continuation of the upmove from here as the stock has been consistently making higher highs and lows with no major signs of weakness showing. Roughly from looking at broadening trend lines I'd say 45-48c is possible in the near future as our next target.What i've noticed over the last few days is that the options are still trading at roughly the price they were when the SP was at 30c, not factoring the recent 4c rise. If PXG does keep moving in a positive direction they'll be playing catch up big time and the leverage is truely unparalleled. All IMO if you have any queries feel free to ask

Cheers.