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 March 3 2006
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| STOCK: CENTURY MINING CORP (CMM) |
WEBSITE: www.centurymining.com |
| CURRENT PRICE: 0.75 |
TREND: SHORT TERM UP, LONG TERM POSSIBLE BREAK OUT |
| TARGET PRICE: 0.95 (if it can break resistance) |
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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CMM, a Canadian Mining Company has recently seen some impressive upside momentum, which has caught the attention of many investors, so lets take a look at the technicals on this stock. Taking a look at the long term chart, you can see the large up tick this week, which may just be the beginning if things continue to go well. The chart shows the price approaching long term resistance levels about $0.85, which it almost reached intra day during trading yesterday. This level should be watched very closely, as any sort of break above this level on volume could suggest the next leg up on this stock. The indicators, both MACD and the money flows are also fairly positive here. The MACD is extended here, but it has yet to reach prior highs, so things may continue here; the money flows show the influx of cash, which drove this stock to double. On the short term chart, you can see a break above a recent high of $0.72, after a recent consolidation period, which is very healthy for any stock facing an upward momentum move. The price is also well above both the 50 day and 200 day averages, and the MACD is getting ready to make a positive cross over. The only negative on the short term chart is where it finished yesterday. It closed well off the highs, which shows profit taking and sellers jumping in here, so we’ll see if momentum continues during trading this morning.
Overall, things are fairly positive on both ends, long and short. Watch the key levels stated above, and if it breaks through resistance, you may want to go long.
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