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NevGold Corp. Poised for Growth, Says Technical Analyst Clive Maund
NevGold Corp. (NAU:TSX.V; NAUFF:OTC; 5E50:FSE) is showing strong potential for growth, according to technical analyst Clive Maund. Maund recently analyzed the company’s 6-month and 2-year charts and found that NevGold is in the late stages of a Cup & Handle base, with a bullish volume pattern and an excellent entry price.
The 6-month chart shows that NevGold is in the final stages of a Cup & Handle base, with strong upside volume driving the Accumulation line higher. Maund believes that this interpretation is strongly supported by recent bullish volume patterns, and that the company is still at an attractive entry price.
On the 2-year chart, NevGold has been in a basing process since last September, despite hitting new lows in December. The bear market brought the price down to long-term support at around $0.20, but the stock has since rebounded and is now trading at around $0.30.
Maund believes that NevGold is poised for growth, with the potential to reach $0.50 or higher in the coming months. He notes that the company has a strong management team and a solid portfolio of assets, including the Silver Hills project in Nevada and the La Plata project in Argentina.
Investors who are looking for a promising mining stock with strong growth potential may want to consider NevGold Corp.