American Creek Resources Ltd. (ACKRF)

[douginil]

Sector expert John Newell Provides updated Analysis on gold markets and American Creek Stock

October 23, 2020

Sector Expert: John Newell

Fieldhouse Capital Advisor Services

John Newell is a portfolio manager at Fieldhouse Capital Management and president and CEO of Golden Sky Minerals Corp. He has 38 years of experience in the investment industry acting as an officer, director, portfolio manager and investment advisor with some of the largest investment firms in Canada including Scotia McLeod, CIBC Wood Gundy and Richardson Greenshields (RBC Capital Markets). Newell is a specialist in precious metal equities and related commodities, and follows a disciplined proprietary approach incorporating equity research, analytical frameworks and risk controls to evaluate and select long and short stocks primarily from the Canadian small and mid-cap coverage. Many large, midcap and junior precious metal companies use his technical charts. Newell is a registered portfolio manager in Canada (advising representative).

On Monday June 15th, 2020 John put out a chart analysis on American Creek and predicted three price targets.

We have some updated analysis on the gold markets and American Creek Resources from Industry Expert John Newell. John has pointed out that American Creek broke it’s downward trend 2/3 of the way down the wedge and is moving towards his third target prediction of 65 cents.
AMK has completed its correction technically. Broken out of a declining wedge (as it went down fewer investors [were] willing to sell.

"AMK is on its way", “Base on Elliot Wave theory Market tend to move in waves of 5 with corrections in between, we have been expecting a 5th wave higher after the current wave 4 correction is complete (which we should be very close for this theory to play out… I mean right now). While the direction of the HUI or other Precious metal indices does not effect AMK.V directly, which by the way looks fantastic here, it shows sentiment of the group as a whole. Corrections in a bull market are designed to shake out the weak hand like wave 2 and now wave 4 has done. Wave 5’s can be big parabolic moves that we have seen in individual companies recently, now all share should rise. If the theory holds true there are 2 more 5 wave up in this Precious Metal Bull market. Below is the current sentiment Chart” * the chart below is Aug 31, since then the index dropped to 62 and is now moving upward at 69.

As you can see John is seeing a strengthening in both gold indices and in American Creek Stock. Prior to the consolidation of gold, he called for a 65 cent target in American Creek stock and still holds his prediction as he sees the next major leg being upwards.


Read more,a and view annotated chars at:
https://mailchi.mp/424d6ddb2707/sector-expert-john-newell-provides-updated-analysis-on-gold-and-amk-holds-065-price-target-1790386?e=6f11d69fd1