Caledonia Mining Corporation (CMCL)

[mortalmyth]

I'd have to say that a significant base has developed at this CALVF share price level. Other than the sharp drop seen just after the announcement of the Fidelity Printers assuming the intermediary roll in selling the Zimbabwe miner's processed gold, the share price has been at these current levels since August of last year.

The share price is heading into a pinching wedge and the 50 dma continues to head up towards the 200 dma. In absence of any driving news, the rate of closure on these suggests that something should happen within the next two weeks. Either it breaks to the upside and heads to the next major level of resistance at around $0.86 or it breaks down and moves to the $0.71 level.

With the annual shareholder meeting to be held next month, there possibly could be some positive news forthcoming. With the NAMA project not panning out as was hoped for, I'd expect Mr. Hayden to at least outline his latest strategy and go forward plans to continue to grow the company. Let's hope for the best.

Good day to all.