SAN FRANCISCO, March 05, 2019 (GLOBE NEWSWIRE) -- Technical analyst Clive Maund explains why he believes both the fundamental and technical outlooks for this company look strong.
Company mentioned: Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX)
Lion One Metals Ltd. is certainly showing signs that it is turning up here, and so it should given the company's steadily improving fundamentals and the brightening outlook for the sector, notwithstanding any modest near-term correction. Notable developments include the company undertaking its own drilling operations, this saving money, performing assay work locally on Fiji and setting up a solar power facility to power its operations.
BREAKING NEWS: QUINTON HENNIGH TO BECOME LION ONE TECHNICAL ADVISOR. Hennigh was the driving force behind Novo Resources, which as we know turned out to be a spectacular investment for early buyers.
On the latest 6-month chart we can see that "something is going on" because Lion One broke sharply higher on good volume in January and has since been consolidating in what looks like a Bull Flag that has allowed the earlier overbought condition to partially unwind and the 50-day moving average to close up the gap with the price somewhat and with the falling 200-day moving average—this is thus a setup that will lead to a bullish cross of the moving averages on the next upleg, the so-called "Golden Cross," which normally marks the start of a new bull market.
We therefore have a situation now that is explosively bullish—and the good news for buyers here is that even after the sharp rally in January, the stock still hasn't broken out of this downtrend, so the news that Quinton Hennigh is getting involved should really light a fire under it.
Continue reading this article: Situation for Gold Miner in Fiji 'Explosively Bullish'
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