Analyst Says Gold Co. Now Buy & Likely to Accelerate

Augusta Gold Corp. has been on an upward swing, even after going through hurdles in mid-April/Could this yr. Whereas shopping for in mid-Could would have been best, analyst Clive Maund says it nonetheless appears prefer it’s ‘a great time to purchase forward of a extra vigorous advance.’

It all the time helps if a inventory’s normal pattern is up, and Augusta Gold Corp. (G:TSX.V: AUGG:OTCQB) remained comfortably inside its uptrend even because the sector suffered a brutal decline from mid-April by way of mid-Could, as we are able to see on its newest six-month chart under.

Whereas the sector dropped onerous, Augusta consolidated in a symmetrical triangle sample that was adopted by a renewed advance as quickly because the stress got here off the sector.

There are a variety of bullish components to watch on this chart.

One is the robust quantity sample with many of the quantity being upside quantity, occurring on rallies. One other is the associated robust uptrend within the accumulation line which continues.

Subsequent is the bullish alignment of shifting averages and final however not least the worth being in a fairly robust uptrend, and since it’s nearer to the underside of it after a heavy sector correction, it implies that it’s prone to rally again up throughout the channel towards the highest of it, which it has already began to do; and there’s nonetheless room on its MACD indicator for it to do that.

So with a time correction from April trying full, this appears like a great time to purchase forward of a extra vigorous advance, though it could clearly have been higher nonetheless to purchase it in mid-Could.

The 15-month chart is included under to point out the total historical past, though technically it doesn’t present us a lot of use that we haven’t already seen on the six-month chart.

One factor we are able to see although is the origin of the resistance that just lately capped the advance… above that there isn’t a lot resistance.

Augusta Gold has subsequently rated a Purchase right here for a continuation of the uptrend, which is prone to speed up, particularly if the sector continues to get better as anticipated.

Augusta Gold Corp web site.

Augusta Gold Corp., G.CSX, AUGG on OTC, buying and selling at CA$2.16, $1.73 at 12.10 pm EDT on June 3, 2022.

Initially posted on on June third, 2022.

Clive Maund has been president of, a profitable useful resource sector web site, since its inception in 2003. He has 30 years’ expertise in technical evaluation and has labored for banks, commodity brokers, and stockbrokers within the Metropolis of London. He holds a Diploma in Technical Evaluation from the UK Society of Technical Analysts.

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The above represents the opinion and evaluation of Mr. Maund, primarily based on information out there to him, on the time of writing. Mr. Maund’s opinions are his personal, and are usually not a advice or a proposal to purchase or promote securities. Mr. Maund is an unbiased analyst who receives no compensation of any form from any teams, people or firms talked about in his experiences.

As buying and selling and investing in any monetary markets could contain critical danger of loss, Mr. Maund recommends that you simply seek the advice of with a certified funding advisor, one licensed by applicable regulatory businesses in your authorized jurisdiction and do your personal due diligence and analysis when making any sort of a transaction with monetary ramifications. Though a certified and skilled inventory market analyst, Clive Maund just isn’t a Registered Securities Advisor. Subsequently Mr. Maund’s opinions in the marketplace and shares can solely be construed as a solicitation to purchase and promote securities when they’re topic to the prior approval and endorsement of a Registered Securities Advisor working in accordance with the suitable laws in your space of jurisdiction.


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