Technical analyst Clive Maund discusses a gold explorer that he believes is at a good entry point.
The purpose of this update is to point out that Golden Ridge Resources Ltd. (OTC:GLDN), which we recommended back on 17th March, continues to look attractive here. Since we looked at it, it has made a run at the resistance at the top of its base pattern on good volume, and then reacted back on much lighter volume, which is bullish, which action is helping to swing its moving averages into more and more bullish alignment. It's at another good entry point for those who are interested here, after its reaction back of the past week or so.
Disclosure: 1) Clive Maund: I, or members of my immediate household or family, own shares 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. My company has a financial relationship with the following companies mentioned in this article: None. CliveMaund.com disclosures below. I determined which companies would be included in this article based on my research and understanding of the sector. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Golden Ridge Resources. 3) 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. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 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.