Via Energy and Gold.com:
We have hand picked the 5 most promising charts in the junior resource space – presented in reverse order:
After a blistering 60%+ rally during the past several weeks, shares of RD.V have cooled off a bit in the last several days. However, this “2 steps forward, 1 step back” type of action is to be expected. There is substantial support in the .250-.290 zone and the series of higher lows remains intact. A breakout above .40 from the 2-year base would be extremely bullish and would target an upside move to .55+.
4. Lake Shore Gold Corp. (LSG.TO)
LSG broke out from a multi-month falling wedge on heavy volume at the beginning of the year and has since run into resistance near $1.20. A pullback to the $1.00 level should quickly find support and the measured move from the falling wedge breakout still measures to $1.40+.
3. Teranga Gold (TGZ.TO)
TGZ formed a double-bottom in November/December and has pulled back to test the uptrend which began at the end of December. Momentum, volume, and price structure all offer a bullish view with a breakout above .65 quickly targeting .80+.
2. Endeavour Gold (EDV.TO)
EDV has formed a nice rounding bottom over the past 4 months. Bullish momentum divergences and increasing volume on up days offers a bullish trend and the recent pullback is normal & healthy price action. A breakout above .70 would target .90+ which corresponds to an important area of support/resistance from last summer.
1. Kaminak Gold (KAM.V)
KAM has formed one of the more impressive bases i’ve ever seen during the past couple of years. Relative strength on the weekly time frame is making multi-year highs and a weekly close above $1.05 would be very constructive. The .95-1.05 represents important support and KAM shares could easily see $1.40+ over the near term on a decisive breakout above $1.05.