Could see strength coming into PZG next week as it breaks it's short term price downtrend from recent highs early-mid September.
(ALL DAILY INDICATORS)
My faster turning indicators Wm% & Slow STO have already "bottomed" around Oct 10 and are now showing good strength and have AREADY broken this almost 2 month downtrend.
The later indicators RSI & MACD look like they will be following (turning positive) and a POSITIVE MACD CROSS (hopefully w/strength) will confirm a new upside price trend.
Presently if "trend change occurs"....until further analysis....you can only expect a new upside trend to last approximately the same time frame as the recent downtrend.
Also note...."selling volume" has been very muted the past two weeks which IMO shows sellers to be either "exhausted" or unwilling to sell at these recent lows.
JMO but I'd say PZG looks pretty good here for new price upside potential and certainly does not look threatening.
This is "THE WORD OF ZARCON".........GLTA
As expected....Wednesday's action and both RSI & MACD (slower turning indicators) support confirmation of "probable trend change" of recent 6-7 week price downtrend.
(see opening thread post)
RSI now breaking downtrend....
MACD now with "positive cross" just below "0 line".
Very similar to MACD mid August which propelled PZG price from average. 2.35 to 2.80.
Probably won't go straight up. Could "back & fill". Still....uptrend in place "could" last 6 weeks?
Should see recent 2.80 high easily "taken out". 3.10?....3.20?....Or more?
Remains to be seen and determined by other "drivers" such as HUI/GDXJ strength and bullion prices.
All this exclusive of possible company news releases.
I think you are right. The positive reports have had no impact on the pps.
Too many shorts running around and major sellers this year.
As gold moves to $1800 level in the next few weeks we will see breakout today $2.80-3.00. It should be above $3 on December 31st.
"The positive reports have had no impact on the pps".
Well....they may have?
They may have "limited the selling volume" at recent lows....and helped keep the price from falling through the 2.45 range?
IMO they "contributed".