the article on Libero Copper posted on the site before the opening, and while Libero is up 15.6% since that article was posted, I am pleased and relieved to see that, at the time of writing, Infinitum has done nothing and is trading at extremely low volumes, which given what has happened to it in recent weeks is a very bullish sign.was mentioned as a Buy in
Infinitum’s chart looks exceptionally bullish, in good part because of the extraordinarily bullish volume pattern. It is not known what is going on behind the scenes but we can safely assume from this chart that whatever it is, is positive.
The 6-month chart shows that, following a severe decline, a low Cup and Handle base has formed. This Cup and Handle looks rather dainty, of the type found in traditional English tea rooms, where people trying to look classy sometimes raise their little finger as they pick the cup up, whereas much cruder types who are shameless might raise their middle finger.
Of even greater import than the bullish look of this base pattern is the extraordinarily bullish volume pattern that has accompanied it for the rally to form the right side of the Cup was accompanied by persistent very heavy volume which implies that some people “in the know” are positioning themselves, and it might even be another larger mining company getting ready to buy it out.
Following this heavy buying during the first half of January, the price has trundled sideways which has allowed time for the somewhat overbought condition resulting from the earlier surge to unwind and for the 50-day moving average to decelerate and turn up. The marked volume dieback as this has occurred is again strongly bullish.
One reason for the stock to mark time carving out this base pattern is of course to allow the falling 200-day moving average to drop down closer to the price and because this average is still some way above, the price could hang around in this area for a while longer. However, the volume indications are so powerfully bullish that it could take off higher sooner rather than later, and it could even do so immediately.
Infinitum Copper is therefore rated an immediate strong speculative Buy here and while many investors might be put off by it being such a low-priced stock, it doesn’t look like it will stay at such low prices for much longer, and of course, this low price means that it has the potential to make large percentage gains from here. Infinitum trades in light but acceptable volumes on the US OTC market, especially as volume on this market should expand as it ascends.
Infinitum Copper's website.
Infinitum Copper Corp. closed for trading at CA$0.075, $0.06 at 12.15 pm EST on February 10, 2023.
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