January 5, 2021
Technological analyst Clive Maund charts Metallic Minerals and points out why he believes the inventory is “now completely ready to split out to the upside.”
We purchased Metallic Minerals Corp. (MMG:TSX.V MMNGF:OTCMKTS) at a extremely excellent entry place two months ago, and it is value bringing it to your focus yet again in this article mainly because its specialized issue has due to the fact ongoing to improve and also as a worthy destination for money to be liberated by our lucrative sale of Norseman Silver, which has appreciated by some 60% considering the fact that we acquired it two months back.
On its hottest 8-thirty day period chart we can see that the set up is now strongly bullish, with a accomplished correction back again in direction of its mounting 200-day relocating ordinary adopted by a rectangular consolidation sample that has authorized time for the 200-day relocating common to catch up and going averages to swing into bullish alignment. Beginning with the higher quantity bull hammer about two weeks in the past which alerted us to obtain, we have seen some aggressive purchasing because that has driven the Accumulation line strongly higher. This is a signal that it is now all set to break out to the upside, and of course we can count on this to synchronize with an progress in the value of silver, which is barely shocking thinking about that the dollar is staring into an abyss.
We for that reason keep long and Metallic Minerals is rated an speedy potent invest in below.
Metallic Minerals web page.
Metallic Minerals Corp, MMG.V, MMNGF on OTC, shut at C$.68, $.524 on 24th December 20.
Originally posted on CliveMaund.com at 10.15 am EST on 27th November 2020.
Clive Maund has been president of www.clivemaund.com, a successful useful resource sector site, given that its inception in 2003. He has 30 years’ working experience in technological examination and has worked for banking institutions, commodity brokers and stockbrokers in the Town of London. He retains a Diploma in Specialized Evaluation from the United kingdom Society of Complex Analysts.
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Chart offered by the writer.
The above signifies the feeling and assessment of Mr Maund, dependent on info readily available to him, at the time of composing. Mr. Maund’s opinions are his very own, and are not a advice or an give to acquire or provide securities. Mr. Maund is an impartial analyst who gets no compensation of any sort from any groups, folks or firms mentioned in his studies. As trading and investing in any money marketplaces might include critical threat of decline, Mr. Maund endorses that you consult with a skilled financial commitment advisor, just one accredited by correct regulatory organizations in your lawful jurisdiction and do your possess thanks diligence and exploration when creating any variety of a transaction with economical ramifications. Though a qualified and experienced stock market place analyst, Clive Maund is not a Registered Securities Advisor. As a result Mr. Maund’s views on the industry and stocks can only be construed as a solicitation to purchase and provide securities when they are subject to the prior acceptance and endorsement of a Registered Securities Advisor working in accordance with the ideal laws in your location of jurisdiction.