With the metals starting to recover, there are three stocks that are rated immediate buys, with two of them having come out with important news this morning.
The first is NevGold Corp. (NAU:TSX.V; NAUFF:OTC; 5E50:FSE), which we went for early in August but is now at an even better price.
The chart is most promising, and it is believed to be at an excellent entry point here. Despite drifting even lower over the past month, its Accumulation line has remained resilient and at a high level after having trended higher for months.
Several large bullish long-tailed candles have formed on the chart from late July, with another positive candle yesterday. It is oversold and definitely looking set to start higher soon. It is thus interesting that it came out with good drilling results earlier this week, which should get it moving.
NevGold Corp. closed for trading at CA$0.36 on September 8, 2022.
Next, we have Spey Resources Corp. (SPEY:CSE), a new one for us, which looks like it is starting to advance out of the large Double Bottom that formed this year.
After a sharp rise last month on good volume, it appears to have been consolidating in a Flag-like pattern and now looks ready to start higher, especially as it is close to completing a financing and the sector is starting higher again.
Spey Resources Corp. closed for trading at $0.18 on September 8, 2022.
Lastly, we have Terra Balcanica Resources Corp. (TERA;CSE), which also came out with positive drilling results earlier this week, especially with respect to silver. Terra is well positioned to break out upside from a small Cup & Handle base pattern, and these results could trigger the breakout.
Terra Balcanica Resources Corp. closed for trading at CA$0.10 on September 8, 2022.
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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 stock market 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.
1) Clive Maund: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None.
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