Looking at AUMN's chart there are some interesting things that can be seen. Ever since the beginning of 2011 (before the merger of AUMN and ECU) the share price has been below the 50 DMA, with the exception of the first two months of 2012 when the share price broke out, but hit the declining neckline and was sent below the 50 DMA again.
Mid-August 2012 we finally broke above the 50 DMA and two weeks later above the declining neck line, where we briefly got abough the 200 DMA which is only at $6.23. What we seem to be doing right now is backtesting the long term declining neckline and the 50 DMA at around $5.00.
If we can bottom here and start rising (which I expect), we will remain above the 50 DMA and meet the 200 DMA soon again in order to break above. Our long awaited golden cross should then follow very soon.
On the basis of the few things of TA which I picked up over the years I get the impression the AUMN chart looks extremely bullish. How can it not be after the beating we got over the last two years.
(would have loved to put the 2 year chart here, but still don't know how to do that after all those years)
