Readers, The Drake Chart is awesome. I hope you all are watching this stock getting set up for it’s next leg higher. All the indicators are pointing upward indicating higher prices are ahead for shareholders.
Readers, I am bringing you companies that have more then a chance to make themselves into a real company with real revenue. I think Drake is one of those companies.
Most readers know me by now and when I don’t like what I see I write about it. I don’t hold back a lot of punches when reading a chart. Everyone it’s our money we are investing so getting an honest chart reading is important. By now many of you are able to read charts well enough to get by. Watching the chart in regards to a stock you own or thinking about owning is very important.
What is Technical Analysis?
Technical Analysis is the forecasting of future financial price movements based on an examination of past price movements. Like weather forecasting, technical analysis does not result in absolute predictions about the future. Instead, technical analysis can help investors anticipate what is "likely" to happen to prices over time. Technical analysis uses a wide variety of charts that show price over time.
Chart T/A
The TRIX (top black line) is a momentum indicator. This indicator is heading upward.
The On Balance Volume measures positive and negative volume flow (red top line). The OBV is also headed upward.
The Exponential Moving Averages is a calculation of time periods’ data. The EMA gives greater weight to the more recent data, in an attempt to reduce the lag. I am using the 200 EMA. 50EMA and 10 EMA. The crossover of these lines indicate buy signals. Currently the 10 EMA has crossed over the 50 EMA and both are heading to cross over the 200 EMA. As each one of these EMA cross the 200 a very bullish buy signal kicks into play. Remember the EMA generally lags the market or reacts to the market. Using this indicator is showing upward pressure on the stock price.
The chart pattern is looking nice with clear Candlesticks present. Today was a key day which produced a candlestick that closed at the top with buying pressure. These clear candles are very bullish.
MACD displays momentum characteristics. The MACD is very bullish moving slowly higher in positive territory. The MACD is solid at this time and suggests higher levels are coming.
The Stochastic Oscillator can be used like any other oscillator by looking for overbought/oversold readings, positive/negative divergences and centerline crossovers. The Stochastic is bullish at this time. Unlike most charts should the Stochastic heading straight up the Stochastic for DKGR has been slowly moving sideways as it moves higher.
Accumulation Distribution Line A momentum indicator that relates price changes with volume. The accumulation is steadily moving higher. This shows positive accumulation is taking place and has been since July.
Money Flow Index (MFI) A volume-weighted momentum indicator that measures the strength of money flowing in and out of a security. The money is definitely flowing into this stock. Starting in July/August the MFI turned upward indicating buyers have been present since that turn in August.
Readers, the DKGR chart is very bullish. All stocks have pauses but this chart suggests another move higher is about to take place. It looks like we have a winner trading/investing in DKGR. I suggest everyone start to follow Drake Gold has an opportunity for growth and I am here while they grow. I am looking forward to the short and longer term of this company.
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