Technical outlook – Approaching this share from a technical perspective, we can assess that the current bearish traction has the potential to strengthen further viewed from the assessment of the Relative Strength Index (RSI) 3-day lookback.
Also, let’s not forget to add that the ‘Moving Average Convergence Divergence’ (MACD) has married up with the (RSI), which in terms strengthens the given bearish aspect.
The immediate target is located at $3.90, reassess from there.
Company Overview – Saracen Minerals Holdings Limited (SAR) is an ASX 200 listed gold company having two operations in Western Australia- The Carosue Dam Operation and The Thunderbox Operation. Former Names: Central West Media Ltd (CWM), 05/08/1997.