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Shanta should go to 25p easily in the next few weeks
Nice forecast Deepsurvey1.
I'm sure I'm not the only person wondering on what you based it, please let us know how you arrive at that number. Thanks.
I forgot to say - earlier I tipped 14p soon. I can see it going higher than 14p but not as high as 25p.
From a chart point of view 16p looks like the next major residence point, then 20p
I can see 16p on the completion of the mine
So you do a bit charting eh PF?
My cryptic comments of "C A H" are about a Cup And Handle in the chart, click above on Charts, on that page click on "Historical Chart" and click on 1Y or 2Y - see last Oct to Jan this year - the cup - and since Jan - the handle.
"Cup and Handle Pattern: How to Trade and Target with an Example"
https://www.investopedia.com/terms/c/cupandhandle.asp
See that example, do you think, as I do that the SHG chart has a cup and handle - i.e. the price is going to shoot up?
I would value all opinions on this as I worry that I might have fallen for a pattern that isn't valid and isn't a true pattern That tutorial explains the rmatter better than I can.
It's following a very clear trading/trend channel on the higher timeframe which started mid 2022.
Higher high and higher lows.
Isidentally it's very similar to to a trend channel formed between 2019 and 2020 just prior to when it shot upto 20.5p mid 2020
No cup and handle pattern in shg. But it has broken above support so hopefully higher to go providing seller has finished.
There was a good cup and handle pattern on rsg though.
"You Cannot Be Serious ! !" - as John McEnroe said. Just trying to inject a bit of humour to avoid this turning an argument, but perhaps you are not old enough to remember him saying that.
I'm really surprised that you can't see a C A H. Wouldn't you agree that Oct 2022 to Jan 2023 is a cup, see the example in that tutorial.
Sadly, on these boards people very quickly take offence, so I hope you don't mind me voicing my views. I'm only debating and I do want to see what you see in the chart.
Must say - "I do want to see what you see in the chart" - that's true, I'm not here to be a show off with an "I'm right and you are wrong" attitude. I'm here to make money and if someone has made a better interpretation of the chart, that I will use it and not ignore it.
Correction - "that I will use it" should have been "then I will use it",
I've just had a look at RSG - I see what you mean.
The Gold price is in a C A H pattern so obviously many gold stocks will be too.
I see where your coming from, but imo it is not a CAH, left side is too high up. Ideally the left and right side need to be of similar height, but that's just my view. As long as shg can stay above the 50 and 200 ma it will eventually break the 13p resistance. Some good news will do it.
Yes Angelis, there is a very good CAH in the weekly and monthly chart. Could play out soon or could be a year or two away though.
Angelis no miners will not have cup and handle patterns as gold for the following reasons;
1. A lot of different types of bad news can impact on miners and a good gold price won't help them.
2. Some hedge funds buy paper gold and sell the miners short. This can delay moves on miners and they react with sharp catch up moves. (Short squeeze affect).
3. Some miners like Shanta have a sharp increase in gold production taking place. This event will dominate their chart pattern and it may be greater than whatever gold pricing is doing.
4. Some miners may have outside interest of another miner on their share price as they may want to acquire the company. The direction of the chart is dependent on their acquisition strategy.
5. The general equity market can influence miners both up or down by increasing or decreasing PE ratios to the sector.
In short miners can have their own patterns and do not always follow the same pattern as gold.
You are quite right Angelis, however I've been reading that for more than ten years and waiting for the breakout.
It was in 2001 that I first read of the coming gold bull. In 2002 I was convinced that the people tipping it had a point and I started buying gold and silver mining stocks.
Jim Sinclair and James Turk gave very good advice and made very accurate forecasts. In following their advice I piled more and more into PM stocks.
At the end of 2010 - well. I don't want to say what I was worth but as an ordinary working man it was a lot - wow.
From 2011 it all started to go wrong, Suddenly the forecasts from Sinclair, Turk and all the other gold pundits went wrong. They never made a correct forecast and I took a pasting. They are market experts. My belief is that they failed to realise just how far the central banks \ the cartel \ whatever, would go in rigging the price.
From 2011 until 2020, every year I thought, "This is it, the gold price must breakout out of that cup and handle and rocket. It didn't. Shortly after that I gave up and sold most of my PM stocks. I'm only just getting back in - nervously,
I hope it does break out to the upside. The last twenty years have been a roller coaster and I want to get off - with a huge gain.
Thanks for the latest comments. Very interesting and much appreciated.
Tony, you are too argumentative and type too much, obviously the ones doing well will.
Oh Angelis, its not an arguement, it is chat and debate. Please try to take it that way.
Argument* correct spelling.
So rather than take my point you comment on a spelling mistake, rather than let it go by. What a small-minded, pathetic creature you are.
I see you dont practice what you preach. I knew a spelling mistake would effect your already fragile ego.
If you cant spell, probably best you type less and stop pretending you are the forums dictatorial sage.
Oh God we've got Noel the typing champions life story. ''It was in 2001 that I first read of the coming gold bull. In 2002 I was convinced that the people tipping it had a point and I started buying gold and silver mining stocks.''
In my post at 18:20 yesterday, I said that on these boards people are quick to take offence, even when none is meant. Not long afterwards, Angelis provided us with a good example of what I talked about.
Tornadotony merely posted his opinion, which is what these boards are for, and that ungracious, small-minded, pathetic creature Angelis accuses him of being argumentative, which he wasn't at all.
See how Angelis has now started a torrent of abuse and a hate campaign against me just because I tried to calm things down.
He says - "I knew a spelling mistake would effect your already fragile ego" - it is his fragile ego that has caused him to start his vicious attacks on me.
He says - "probably best you type less and stop pretending you are the forums dictatorial sage" - so, he wants to dictate what we may or may not say. He thinks he is the board policeman.
As I said - "People are quick to take offence" - ungracious, small-minded, pathetic people that is. Keep up your attacks Angelis, it only shows you for the sort of person you are.
Angelis wrote - "Peter Schiff, Jim Rickards and Lynette Zang all believe golds true value being around 15,000" - "golds" Angelis?
And by the way, after the Gulf of Mexico \ Deepwater Horizon disaster, Jim Rickards said the the legal claims would wipe out BP, bankrupt it? Did they?
Angelis wrote - "They wont, its what they do" - "wont" Angelis?
On NCCL, Angelis wrote - "Pirate, i was invested in 2015 probably before you were born." - we don't want your life history Angelis.