Our analysis is based on long term trends, and if they are promissing, short term analysis. First, we view the
3 year weekly charts, followed by a 1 year daily chart. This analysis allows you to view the larger picture and trend,
rather than just looking at a short term prospective. This way, you can use short term volatilty to your advantage, if the
long term trend is positive.
You will see a summery of the stock we are analyzing, followed by the 3 year and 1 year charts. At the end, you will see a technical analysis summery. That's it,
to the point technical stock market analysis daily!
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Technical Analysis for February 16 2006
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| STOCK: BEMA GOLD (BGO) |
WEBSITE: www.bema.com |
| CURRENT PRICE: 4.40 CDN |
TREND: DOWN TREND |
| TARGET PRICE: N/A |
RECOMMENDATION: PASS |
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Long Term Chart (Weekly 3yr) - To view the bigger picture
Charts Courtesy of StockCharts.com
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Short Term Chart (Daily 1yr) - Where to take a position
Charts Courtesy of StockCharts.com
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This Canadian listed gold stock has suffered recently with the rest of the gold sector, and has entered into its consolidation phase here when looking at the charts. On the longer-term chart, you can see the stock dipping after hitting its level of resistance around $5. The decrease in price is evident because of the falling MACD as well, without any signs of an upturn visible here (and the STOCHs are following suit as well). On the short term chart, you can see the fall more clearly, with the price hovering above its 50 day moving average, and whether or not it holds will be an important indication of where the stock will head. The MACD is not telling us of any turn around here, but it is still unclear, it may change today, but it’s a gamble. The price also needs to hold the trend line shown on the chart, if it were to breach this line, the stock may drop under $4.
Bottom line, things are not looking up here in the longer term, short term it may go up, but there is no need to gamble here.
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