SAN FRANCISCO, CA–(Marketwired – July 28, 2017) – Technical analyst Clive Maund discusses the signs of a breakout he is seeing when charting one zinc stock.
Company included in article: Zinc One Resources Inc. (TSX VENTURE: Z) (OTC PINK: ZZZOF) (FRANKFURT: RH33)
Zinc One Resources Inc. is one of the best zinc companies around, but over the past six months its stock has suffered a heavy reaction following a steep run-up early in the year, as we can see on its 8-month chart below. Fundamentally this reaction was due to two factors. One was a falling zinc price, and the other was a major funding by the company.
The good news is that these two negative factors no longer exist. The funding is in the rear view mirror, and it can safely be assumed that there won’t be another for quite a while. In addition the zinc price is now recovering well, as can be seen on the zinc price chart shown below. These two negative influences having disappeared means that the stock is free to advance again, especially as its heavy reaction fully corrected its earlier overbought condition. But there’s more-a major bull market in metals is about to get underway as signaled by the copper price, which is now advancing strongly. Copper is a good lead indicator which is why it got the moniker “Dr Copper.” In addition, zinc is set to be one of the most important industrial metals going forward.
Continue reading this article: Premier Zinc Stock at Great Entry Point
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DISCLOSURE:
Clive Maund: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. I determined which companies would be included in this article based on my research and understanding of the sector.
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