RCKS talk

Monday, November 20, 2017 Derek Macpherson

RCKS Charts: BTR & PGE


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In this edition of RCKS Charts, Keith has evaluated Bonterra Resources Inc. (TSXV:BTR) and Group Ten Metals Inc. (TSXV:PGE).


In a market clearly struggling two names stand out:

Bonterra Resources Inc. (TSXV:BTR) – while many issues have stalled or pulled back over the past couple of weeks Bonterra broke out to the upside from a six-month trading range, part of a larger base pattern dating back to 2013. It did so with positive momentum, rising accumulation (On-Balance Volume,) with both moving averages rising. Indicated targets are $0.75 and $0.90 with higher objectives possible.


Group Ten Metals Inc. (TSXV:PGE) – has been rising from the lower boundary of a near five-year base formation. Momentum is rising, accumulation has been very strong and the 10-week moving average is on the verge of an upward penetration of its rising 40-week moving average—a bullish, buy signal. The initial target is the upper boundary of the base pattern, $0.40-0.45. Higher objectives open up if PGE is able to break above the upper base boundary.


Keith Edwards, Chartman Market Analysis
Technical Market Analyst
 
Red Cloud Klondike Strike Inc.
105 King Street East, 2nd Floor
Toronto ON, M5C 1G6

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Company Specific Disclosure Details
Bonterra Resources Inc. - TSXV:BTR - None
Group Ten Metals Inc. - TSXV:PGE - None

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