March 20, 2009
New Crest mining Bullish Signal – NCM
By Planet Wealth
With all the uncertainty in the market, gold is having a excellent bull run this week. So it stands to reason alot of the gold mining stocks are doing the same. NCM gave a fantastic Bullish signal today.
Let’s build the case for a high probability bull go. The last 5 months buyers have been in control, which we know by the major Higher Peaks (HP) and major Higher Troughs (HT). Then in the last month there have been a series of smaller HP and HT. Today’s HT came off weekly support and trend lines with a large increase in volume. This is likely to give the stock more power to the go.
With all indicators in line this stock is likely to make it to the next weekly resistance line at $35.00.
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Topics: bullish signal, mining sector, trading patterns | No Comments »
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