Could a short-term breakout be on the horizon?
Good evening Scd.v family!
I’ve been doing more chart research on Scandium Canada (Scd.v), and I have a few observations I’d like to share:
Picture 1 Shows the 5yr chart (time frames at the bottom of pic).
Please excuse all of the MA lines and refer to the circles. The Orange circle highlights a nice cross of the 100ma over the 200ma, which could be a sign a further longterm strength. The yellow circle kinda gets me excited for a little run and the second picture will help shore it up. The short term 9ma had a nice curl and is about to have a solid cross over the 20ma. I don’t usually base my charting off the 5yr, but found it interesting when referenced with the monthly chart.
Picture 2 shows the monthly chart.
Again, please disregard the lines lol. Since our recent lows and strong bounce off the 200ma, the blue circles highlight that for the last month and a bit, the short-term price action has shown the 20ma lots of respect. We had a nice double bounce pop in the middle of May; could we be lining up for the same thing here in June? The green circles demonstrate the macd could rebound to the upside quickly like it did in the past.
Maybe we dip a little below here in the short-term, but I think we’re are due for a nice pop. But I do find it fascinating how the two charts line up. Maybe there’s some surprise news on the not so distant horizon, who knows! Just thought I’d share my initial response to some playful charting.
Thoughts?