After a breakout an a nice move to the upside the bulls and bears are battling at the top. Looks to move sideways for a bit until one wins out.
Ultimately I think the bears win out for a short period as the breakout was due to a news article. Price should eventually challenge to fill the gap created at the .22 mark. This all of course without added company news....
$SIC - Really really like what is going on here. Big descending wedge pattern that bounced off of long term trend and support. Ascending triangle forming after breaking out of the wedge and trading a little sideways on back-test. Really like this setup. Liquidity a problem but heavy volume and she moves!
Overall bull trend not breached, technical analysis points to strong rally for seasonal mining stocks in January-March trading sessions while markets plummet and metals (gold, silver, etc.) rally.
Bullish flag forming, waiting for short-term target breaching 0.17 fibonacci resistance level.
Phase 2 exploration begins October 1st, and the speculative interest will be increasing.
After trading down on relatively unsurprising news about the drilling done on the western trend, we are setting up for a speculative rally for Phase 2 drilling at the eastern trend at Moosehead.
The 10,000m Phase 2 drilling program will test the area on the eastern trend,...
According to fib fan SIC could be at its bottom after 28M warrants being fully exercised. They hit very high grade gold with Sprott backing them for millions. Potential 5-10 bagger from these levels...
-Completed full Elliott wave impulse and correction following strong fundamental
-Followed by a bearish Head and Shoulders pattern resulting in negative price action
-Fundamental (strong news - but interpreted poorly by market participants) resulting in panic sell over past 2 days. Price action preceded fundamental
-RSI oversold on hourly - reversal imminent...
Quite a buzz ...will closing of PP have an effect on SP or will we continue in the $0.33 - $0.43 price channel until more news?
I don't mind either way ..Just curious TSXV:SIC
