Technical analyst Clive Maund takes a look at NevGold Corp.’s 6-month and 2-year charts to explain why he believes in the company.
is looking most attractive here.
On its latest 6-month chart we can see that it is in the very late stages of a Cup & Handle base with this interpretation of what is going on being very strongly supported by the powerfully bullish volume pattern of recent weeks with the strong upside volume starting to drive the Accumulation line steeply higher and the best news is that it is still at an excellent entry price.
On the 2-year chart, we can see that, following a quite severe bear market, it has actually been in a basing process since last September, despite hitting new lows in December with the bear market bringing the price down to long-term support at cyclical lows dating back to the 2021 lows.
Nevgold is therefore rated an immediate strong Buy for all timeframes.
With gold and silver down this morning at the time of writing it may be possible to buy into weakness and get a better price.
Nevgold Corp. closed at CA$0.35, $0.264 on March 6, 2023.
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The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund’s opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund’s opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.
1) Clive Maund: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None.
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