American Bulls buy confirmed (Japanese candlestick technical analysis):
GOLDEN EAGLE INTERNATIONAL INC Daily Commentary
Our system posted a BUY CONFIRMED today. The previous SELL recommendation was issued on 10.22.2009 (12) days ago, when the stock price was 0.0021. Since then MYNG has gained 4.76% .
BUY-IF is confirmed by a white candlestick which has an open equal to the previous close but closing higher. The buying price is the previous close ( 0.0018 ) according to the Rules of Confirmation.
The recent bullish formation leading to the BUY-IF signal is confirmed today. The market seems ready for a new bullish move. Though the market opened lower today, the day’s activity created a white candlestick that closed above the previous close. This is a valid confirmation criterion.
The slight failure of the previous SELL signal is currently confirmed, too. We closely monitor the performance of the signals, but a few shots missing the target slightly are inevitable when you deal with the stock market. However, such signal failures are more unlikely for higher rated stocks.
We hope that you acted quickly and already bought this stock . Today your important benchmark was the previous close. You were supposed to watch the session carefully, feel its bullish tendency despite the lower opening, and go long after making sure that the prices stay over the previous close.
If you bought, continue to hold this stock until the confirmation of the next SELL-IF signal. You are on relatively safe grounds as long as the future prices continue to trade above the benchmark price and if an emergency warning is not issued. What to do if you did not buy? Maybe, you did not have time to follow the session or you simply delegated the delicate job of confirmation to us. Well, it is a bit late, but not too late. You may still find suitable prices for buying in the following sessions.
note: I'm pretty sure that this is an automated system that ranks stocks based upon technical patterns- Japanese candlesticks. So I'm not sure how accurate this is as a buy rating, but it's nice to see that a TA system that I don't follow thinks that MYNG is a buy as well. Can't hurt, you know? :-)
Maybe sub-contract? Investment holding company? New Business venture who have capital and wants to get into gold operation that might be why they want to hire MYNG to do the gold mine operation after the acquisition?
If I were to have $10 million to invest in gold mining and I am new to the industry as far as operational go, I would hire a gold mine operation company after I take over the ownership of the mine. I think this could be what we are seeing here.
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