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Canadian Mining Co. An Immediate Speculative Buy

Source: Clive Maund

November 3, 2023 ( Newswire) Technical Analyst Clive Maund takes a look at Collective Mining's 6-month chart to tell you why now is the time to buy this stock.

Collective Mining Ltd. (CNL:TSXV) is rated an Immediate Strong Speculative Buy as close to the open this morning as possible. Its chart is looking very positive and the news came out that it has drilled its best hole to date.

On its latest 6-month chart below, we can see that when it broke down in September and tumbled along with many other gold and silver stocks, its Accumulation line held up well and has even been making new highs. This bodes well for recovery, even without the good news just out.

Right now, it appears to be at the second low of a Double Bottom with the strong Accumulation line already mentioned, still rising 200-day moving average, and positive divergence of momentum (MACD), all pointing to imminent recovery.

Collective Mining is therefore rated an Immediate Strong Speculative Buy as close to the open as possible.

Collective Mining's website.

Collective Mining Ltd. closed at CA$4.46, $3.19 on October 27, 2023. Collective Mining is thinly traded on the US OTC market, where limit orders should always be employed.

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