RCKS talk

Friday, November 17, 2017 Derek Macpherson

RCKS Charts: ECC, TK & GSC


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In this edition of RCKS Charts, Keith has evaluated Ethos Gold Corp. (TSXV:ECC), Tinka Resources Ltd. (TSXV:TK) and Golden Star Resources Ltd. (TSX:GSC).


Ethos Gold Corp. (TSXV:ECC) – while stocks have spent much of November in pullback mode Ethos exploded, doubling from $0.14 to 0.28, from its four-month base which was actually a test of its 2014-15 base. It is now testing back towards its flattening 200 day moving average and possibly to close the gap at $0.16-0.17, all normal after a sharp liftoff. Rising momentum, On Balance Volume and the 50-day moving average all suggest the test will be contained. Once past $0.028-0.30 target $0.40-0.42, with higher targets possible.


Tinka Resources Ltd. (TSXV:TK) – following its explosive upside in late October Tinka pulled back to test the break of the consolidation downward trendline, which is normal and expected in chart analysis. It now appears ready to resume its uptrend with On-Balance Volume ticking upward, medium-term momentum rising up through its neutral line (‘0’) and both moving averages also rising. The initial target remains $0.90-0.95 then $1.20-1.25.


Golden Star Resources Ltd. (TSX:GSC) – continues to emerge from its nice saucer bottom and larger longer-term “cup and handle” pattern, highlighted in last week’s RCKS Charts. Momentum readings remain positive and On-Balance Volume, a measure of accumulation, continues to climb. The 50-day moving average is very close to a bullish upside cross of the 200-day moving average, suggesting the uptrend is gaining sustainability. Resistance lies across $1.20-1.35 while support is at $0.95-1.00.


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

Priced as of prior trading day's market close, EDT (unless otherwise noted).
All values in CAD unless otherwise noted.

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Company Specific Disclosure Details
Ethos Gold Corp. - (TSXV:ECC) - None
Golden Star Resources Ltd. - (TSX:GSC) - None
Tinka Resources Ltd. - (TSXV:TK) - 1,4

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