Source: Clive Maund
September 8, 2023 (Investorideas.com Newswire) Technical Analyst Clive Maund takes a look at Gladiator Metals Corp.'s 6-month chart to tell you why he believes it is in a good spot to Buy.
Gladiator Metals Corp. (GLAD:TSX) is a copper stock that was the subject of an email alert yesterday; it is looking most attractive here following a multi-month reaction back to its rising 200-day moving average above which a Double Bottom base pattern has formed in recent weeks. This looks like a classic "buy spot," with it having broken out of the earlier downtrend, just completed the second low of what is believed to be a Double Bottom, moving averages in strongly positive alignment, a bullish volume pattern that is driving the Accumulation line to new highs, and momentum (MACD) starting to trend higher from oversold.
It's really hard to ask for more. The only thing that would trim its sails would be an all-out market crash, and while that is a lurking danger, it doesn't look like it will happen in the immediate future. From the look of the chart, it is suspected that there may be some good news forthcoming soon.
Gladiator Metals is therefore rated an Immediate Strong Speculative Buy. You may recall that we went for Gladiator last month rather too early at CA$0.50, but now it looks even better.
Gladiator Metals closed at CA$0.45, $0.328 on August 24, 2023.
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