GLDN:TSXV - Golden Ridge Resources: trend-line test, curling up
GLDN:TSXV - Golden Ridge Resources: a slight equilibrium pattern setting up after the recent high of $0.195 was set back on June 24, and so far $0.165 & $0.17 have shown their support while $0.185 has been resistance. The daily and weekly charts have had great consolidation on the move up. Gold spot prices are breaking back out above $1400USD after a week of consolidation, this could help fuel the miner/explorers higher than previous years. Could also see some first drill results coming in the next couple weeks which, may fuel continued upward momentum, last year gold spot prices pulled in heavily in the middle of July, which fuelled a correction in GLDN's share price, this year with gold prices strong I'd anticipate a different trend/pattern to form. #GOLD #goldentriangle $GLDN.V
Near term Catalysts:
Drilling commenced on June 14, nearly a month earlier than last year, this drilling season is working on last years very promising finds that propelled the stock up 200% into the 50c range. This drilling season should see similar results and will be reflected in the stock price, the land they own was previously Barrick Gold's which sat un-explored for 20 years. Speculatively, In the future this could be bought back.
GLDN
Near term Catalysts:
Drilling commenced on June 14, nearly a month earlier than last year, this drilling season is working on last years very promising finds that propelled the stock up 200% into the 50c range. This drilling season should see similar results and will be reflected in the stock price, the land they own was previously Barrick Gold's which sat un-explored for 20 years. Speculatively, In the future this could be bought back.
GLDN