ROXGOLD INC - TSX: $ROXG OTC: $ROGFF Rounding Bottom
Since last Summer (2018) ROXGOLD INC - TSX:ROXG OTC:ROGFF appears to have been carving-out a rounding bottom and in the process, recapturing its 200 DMA last month (May) and now finds itself potentially building a handle forming a cup-and-handle C&H as is evidenced in the Daily chart above.
Additionally, we can also observe that ROXG now finds itself trading above all of its important moving averages 20/50/200 DMA's, which depicts a healthy technical posture.
Furthermore, with
GOLD now awakening from its six-year slumber (long-term consolidation) and many mining equities lagging behind the physical metal itself, we suspect that the metals equities themselves have some catching-up to do.
Thus, both investors/traders may want to continue to monitor the action closely in the days/weeks/months ahead throughout the mining equities landscape and in particular, those names whom display excellent technical characteristics such as ROXG.
While we believe that and initial objective of $1.40 is viable, it's very likely that we could see the $160 - $1.75 zone further down the road as the space heats-up.
Additionally, we can also observe that ROXG now finds itself trading above all of its important moving averages 20/50/200 DMA's, which depicts a healthy technical posture.
Furthermore, with
GOLD now awakening from its six-year slumber (long-term consolidation) and many mining equities lagging behind the physical metal itself, we suspect that the metals equities themselves have some catching-up to do.Thus, both investors/traders may want to continue to monitor the action closely in the days/weeks/months ahead throughout the mining equities landscape and in particular, those names whom display excellent technical characteristics such as ROXG.
While we believe that and initial objective of $1.40 is viable, it's very likely that we could see the $160 - $1.75 zone further down the road as the space heats-up.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.