Wednesday, October 24, 2012

Lion Gold (technical)

Lion Gold: the charts suggest a favorable outlook over the longer term, supported by the rising 200day MA. However note that the stock is not for the faint hearted given the bouts of volatility. Near term , the RSI and MACD have been flattening out , while Stochastics is approaching overbought levels, creating some uncertainty. Given the current lack of direction, watch for cues such as a break above the $1.10 near term resistance of $1.10, or a break of support at $1.05, before taking action.

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