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Look at the Lovely Head-&-Shoulders Bottom in This Gold Co.
Contributed Opinion

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Technical Analyst Clive Maund draws attention to what he believes is a particularly fine example of a Head-and-Shoulders bottom in Augusta Gold Corp.

Augusta Gold Corp. (G:TSX.V: AUGG:OTCQB)

While no technical pattern can be relied on 100% to lead to an expected outcome, due to the complex and sometimes unpredictable fundamental factors in play, they do indicate probabilities, and the reason for focusing on Augusta Gold Corp. (G:TSX.V: AUGG:OTCQB) here just a couple of days after we looked at its 1-year chart in the CHART ANALYSIS OF ALL THE HUI INDEX CONSTITUENTS posted on the 16th is to draw your attention to the particularly fine example of a Head-and-Shoulders bottom that is completing in the stock that we can see much more clearly on the 2-month plus chart shown below.

If Augusta delivers on the promise of this chart and advances in the manner expected, then quite obviously, it is likely to do so against the background of a broad sector advance that is what we are expecting.

Augusta was recommended on the site very near the bottom on 25th June after we spotted a bullish "inverted hammer" on its chart when it was still deeply oversold. We stay long, and fresh purchases are in order.

Augusta Gold's website.

Augusta Gold Corp. closed at CA$1.04, $0.62 on July 18, 2023.

Originally published on on July 18, 2023, at 7:00 pm EDT.

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  1. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
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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.

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