After its sharp reaction of recent days within a prevailing strong uptrend to arrive at its rising 50-day moving average, E2Gold Inc. (ETU:TSX.V) looks like it is at another great “buy spot” here, especially as this steep reaction has created a considerable degree of “compression” into the uptrend and since it was not on strong volume it has not caused the Accumulation line to drop much.
This therefore looks like a great point to buy or add to positions.
(See chart below.)
"E2Gold looks like it is at another great “buy spot” here."
—Clive Maund, Chart Analyst
E2Gold Inc., ETU.V, closed at CA$0.20 on 10th November 21.
Originally posted at 9.25 am EST on 11th November 21.
Clive Maund has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years' experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.
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Charts provided by the author.
The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stockmarket analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.