CNMC Goldmine after hitting the high of 61 cents on 7th July 2016 it has since retreated lower to touch 36 cents on 22rnd July 2016. The price had managed to stage a strong recovery and head higher to close at 58 cents on 26th Aug 2016. The current price movement sentiment was being driven by good news of lease extension, large scale operations approval & the new acquisition .
The present price of 58 cents is staying above the SMA lines of which in my view is quite positive.
Both Macd & Rsi are still rising of which may likely provide further indication that the share price may continue to trend higher.
With overnight US interest rate stay unchanged , I think short term wise, it may likely resume this uptrend mode and move up to re-visit 61 cents. Breaking out of 61 cents with ease that may propel to drive the share price higher towards 65 cents then 70 cents and above.
(trade base on your own decision)
No comments:
Post a Comment