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 3 2006
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| STOCK: SHOREGOLD (SGF) |
WEBSITE: www.shoregold.com |
| CURRENT PRICE: 7.89 |
TREND: UP TREND, POSSIBLE BREAK OUT |
| TARGET PRICE: 9.50 |
RECOMMENDATION: SPECULATIVE BUY |
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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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Shore Gold, a Canadian gold and diamond company has simply been on a tear for a few years now. Take a look at the long term chart; don’t you wish all of your investments looked like this? I guess the question is, will this ride last or will it come to an end. Well, the chart has reached a key plateau, and seems like its found a nice resting place here, since it has some resistance around this level, and those who bought at the highs before might be trying to get even here, but that might not be a great move. The stock was down last week, and pretty much made back all of those losses this week, and is causing the MACD to begin heading higher again, which could bode well for the stock. On the short term chart, you can see the price bouncing off the 50 dma a few times, and seems like it has solid support at that level. The MACD on this chart is heading higher, and should have a positive impact on the long term MACD if it breaks out here from its high.
Overall, this stock looks very good on both charts, and if the MACD does in fact turn positive on the long term chart, and the stock breaks out from its high, sit tight and enjoy the ride. Bottom line, this stock could have an impressive ride from here, especially if gold prices move.
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