Tech Analyst Says 'Take Profits'
Source: Clive Maund
June 7, 2023 (Investorideas.com Newswire) Technical Analyst Clive Maund explains why he believes now is the time to sell this Canadian mining company.
"If you won't take a profit when you've got it, that leaves one alternative, which is to take a loss." - Robert J Moriarty." Snowline Gold Corp. (SGD:CSE; SNWGF:OTCQB)
We have done well with this one, buying it the points shown on its latest 6-month chart below, and because it has a habit of spiking rather dramatically higher and then dropping back more slowly, it is considered prudent to TAKE PROFITS IMMEDIATELY.
Could it continue higher after we sell?
Sure, it could, and if it rallies again in the early trade today, it will give us an opportunity to sell into strength, and if it carries on even higher after we sell, we won't be concerned because there are plenty of other promising PM stocks where we can immediately deploy the freed funds that are less risky than this is becoming, and we will be looking at some of them as the day progresses.
Snowline Gold's website.
Snowline Gold Corp closed at CA$3.65, $2.58 on June 5, 2023.
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