Sunday, December 27, 2009

PZG in a Strong Technical Spot

Paramount Gold and Silver (PZG) is a Canadian gold miner with mines in Canada and Mexico. As with so many gold miners, the monetary fundamentals are quite forgettable. So I'll just point out an interesting technical feature: (click to enlarge)

The stock has had a mind of its own since mid year, slumping in the face of gold's rally and now doing a triple blast off - lifting off from both the 140 and 200 dma as well as breaking a long bull flag channel - all in the face of gold's beat down in December. This is one determined bull flag and could mean a power move up.

No comments:

Post a Comment