Garibaldi Resources is a speculative gamble play in the Golden Triangle area . They control a significant land package there and have been in a massive 6 year declining wedge pattern .
GGI has hit some rough patches recently but the macro looks very favourable with lots of attention on ethical Nickel, thanks to Tesla Battery Day. The Nickel Mountain Deposit hosts some of the highest grade Nickel on the planet. The head geologist Dr. Peter Lightfoot is one of the top Nickel experts in the world with many mining textbooks to his name. Billionaire...
GGI.V has broken the downtrend after bouncing off oversold RSI levels. Bullish MACD cross, bullish Stoch/RSI action confirming trend reversal. Long-term support band near .70 has now been tested and held 3 years in a row. I am long at .69 - .71.
GGI experienced a pullback in an up-trending market (Usually 3-4 days of pullback before its next move up).
Try to buy in around 2.90. I am expecting GGI to reach a level of 3.40-3.55.
Stop loss at 2.7 or approximately its trend line.
This particular company keeps getting mentioned by Eric Sprott on his public weekly podcast.
In the last few days, we see it rallied on higher volume and has pulled back on very light volume. That should suggest short term bullishness out of this bull flag, although I think the longer term outlook looks good too.
It is steadily making higher highs and higher...
Overdue news release coming at any moment. Double bottom forming very bullish chart. Look for next step up to $5+ early next week? Strong assay results would have massive impact if confirmed in news release. Sure to be some fireworks either way.
GGI
