Although CAY ( ASX) is an information driven asset awaiting mining license, there is some bullish structure.
Currently the price is sitting at 0.045 this is insider price purchase and is holding steady.
After a large break to 0.078C currently price is forming a descending wedge on the daily / weekly.
If price can break-out and hold the daily 50ema: Potentially...
Looking at weekly chart to see Canyon closing in on the apex of a very large symmetrical triangle, with all the milestones they're ticking off for getting this massive resource into production I can only assume it will eventually break to the upside.
$CAY - CANYON RESOURCES - Bolly squeeze about to pop?
Volumes up - might be about to make a move after tracking sideways and steadily contracting for quite a while. Its moved about its 20 and 50 day moving averages so showing some sign of life. Made a pretty good upward move last time it broke out so worth a watch over the next few days. Keep an eye on the...
