Tech Analyst Says Mineral Co. Is Looking Very Attractive

Technical analyst Clive Maund reviews Barsele Minerals Corp. to tell you why he believes it should be very attractive to investors.

Many Precious Metals stocks are looking poised to advance soon following their corrective retreat of recent weeks. One that is looking very attractive here is Barsele Minerals Corp. (BME:TSX.V; BRSLF:OTCQB) which broke out of a Double Bottom base pattern in January with a big move that saw it double in price in about two weeks after which it formed an intermediate top before having a normal reaction back to strong support in the vicinity of its now bullishly aligned moving averages which reaction served to correct the big January impulse wave.

We can see this action on the latest 6-month chart shown below, while a 1-year chart shows to advantage of the Double Bottom that formed last year.

Of particular note on our 6-month chart is the way the reaction of recent weeks has fully corrected the earlier overbought condition (MACD) that developed as a result of the big impulse wave. The pronounced bull hammer/dragonfly candle a few days ago is thought to mark the end of the correction.

The volume pattern is clearly strongly bullish with a preponderance of upside volume and this explains the continued rise in the Accumulation line even as the price was correcting back, which is a sign of internal strength that portends renewed advance, so the setup looks most auspicious.

Barsele Minerals is therefore rated a strong speculative Buy, especially on minor dips and anyone still holding should stay long for recovery. Trading on the US OTC market is very light and for this reason, it should be avoided — if you do attempt to buy it on this market be sure to use limit orders.

Some of you may recall that we bought Barsele about a year ago and then got stuck with a losing trade (unless you ditched it) when it tripped to lower levels as a result of sector weakness and then had to wait and watch as it marked out the Double Bottom. The current setup looks considerably better than a year ago especially given the improved outlook for the sector.

Barsele Minerals’ website.

Barsele Minerals Corp. closed at CA$0.39, $0.255 on February 17, 2023.

Want to be the first to know about interesting Base Metals investment ideas? Sign up to receive the FREE Streetwise Reports’ newsletter. Subscribe Disclosures:
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 shares 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. My company has a financial relationship with the following companies mentioned in this article: None. disclosures below. I determined which companies would be included in this article based on my research and understanding of the sector.

2) The following companies mentioned in the article are sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with: None. Please click here for more information.

3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Barsele Minerals Corp., a company mentioned in this article.

Chart provided by the author.

Read The Original Article