Down trend breakout

fast track exploration - Canada & Mexico

Kootenay's La Negra prospect is a significant and exciting new high grade silver discovery that offers exceptional potential to evolve into a substantial near surface, open-pit resource.

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CGB

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Down trend breakout

posted on Oct 04, 2010 08:45AM

Broke out of down trend last week and as posted a 5/20 Golden Cross on Thursday. However it closed the week at what is now support (at $0.52). Volume indicates that the stock has been accumulating for a few weeks and its 26% gain before pulling back could very well be profit taking. This is one that I will be watching early this week as it may well surprize us. Indicators have turned upwards last week on high volume and could continue to move upwards. Entry at $0.52 would be the aggressive play with an initial target of $0.60 for gains of 15.3% followed by the 200 SMA line hovering above at around $0.69 for gains of 32.6%.