Thursday, June 22, 2017

Amur Minerals could soon break out northwards

Amur Minerals stock (LSE:AMC) is currently flat, forming a tight base that has been seen since April this year. The market trended downwards in February and March, prior to the current flat movement.

The ADX period 14 is between the levels 20 and 30, while showing that there could be some considerable momentum in the market. The DM+ is also slightly above the DM-, revealing a bullish intent.

The MACD, default parameters, still has its signal line and histogram (which seem like thinning out) below the zero line. However, the MACD is a kind of converging to the upside and that may end up creating a bullish signal, once the zero line has been crossed to the upside.

Yes, there is a tight base on Amur Minerals Corporation, but a breakout to the upside is likely before the end of this year.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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