Stop Loss

Silver Lake Resources Limited

February 7, 2021 - 9 months ago
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Action Buy
Term 60 Days
Called At $1.555
Target $2.06
Current Price N/A
Performance -5.00%

Technical outlook – Using the many tools among the technical stock analysts, ‘Divergence’ is probably one of my favourite trading signals because they are dynamic and often offer a reliable, high-quality trading signal reversal when combined with other trading tools and concepts.

In Technical Analysis, divergence can be a significant warning signal that a bullish or bearish trend is coming near an end.

Divergence appears when a technical indicator begins to establish a trend that disagrees with the actual price movement.

These “disagreements” are strong signals and somewhat useful for the trader/investor.

Bullish divergence occurs when an asset’s price makes a new low while the indicator starts to climb.

The bullish divergence is viewed from the 3-day lookback Relative Strength Index (RSI).

It is assessed once prices break above $1.65 level, this in terms should generate a move $1.82 with scope to $2.06-12.

Company Overview – Silver Lake Resources Limited (SLR) is a gold producing and exploration company with resources in the prospective regions in Western Australia.

SLR currently focusses on its flagship project – Mount Monger Operation.

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