Analyst Clive Maund critiques Astra Exploration’s latest updates, sharing his score of the corporate after promising drill outcomes.
Astra Exploration Inc. (ASTR.TSX.V) is a junior exploration inventory that’s concentrating on gold and silver in northern Chile, and the explanations that we’re taking a look at it this morning are that its chart is shaping up effectively and it got here with good drilling outcomes simply this morning.
As Astra solely got here to market late in January, a six-month chart is enough to point out the entire motion within the inventory. On this chart, we will see that quickly after it began to commerce it went right into a fairly extreme downtrend that resulted in its shedding greater than half its worth by the point this downtrend ended on the primary of April with a bull hammer. After hitting backside it reversed into a delicate uptrend which is constant and the response of the previous a number of weeks again throughout this uptrend channel to its decrease boundary is seen as presenting a shopping for alternative, particularly given the nice drilling outcomes that had been revealed this morning.
Astra Exploration is subsequently seen as a horny speculative purchase right here for one more advance throughout the uptrend that would end in good share positive factors.
Astra Exploration web site
Astra Exploration Inc., ASTR.V, closed at CA$0.19 on 24 Could 22.
Initially posted on CliveMaund.com on Could twenty fifth, 2022.
Clive Maund has been president of www.clivemaund.com, 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 obtainable to him, on the time of writing. Mr. Maund’s opinions are his personal, and usually are not a suggestion or a suggestion to purchase or promote securities. Mr. Maund is an impartial analyst who receives no compensation of any sort from any teams, people or firms talked about in his studies. As buying and selling and investing in any monetary markets might contain critical threat of loss, Mr. Maund recommends that you just seek the advice of with a certified funding advisor, one licensed by applicable regulatory businesses in your authorized jurisdiction and do your individual due diligence and analysis when making any form of a transaction with monetary ramifications. Though a certified and skilled inventory market analyst, Clive Maund isn’t a Registered Securities Advisor. Due to this fact 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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