Technical Analyst Sees Bullish Signal for Mining Junior

Source: Clive Maund for Streetwise Reports   07/07/2021

Technical analyst Clive Maund explains why he has a Buy recommendation for Barsele Minerals.

Barsele Minerals Corp. (BME:TSX.V; BRSLF:OTCQB) continues to shape up well and whilst our original entry point back in January was certainly nothing to boast about, our second entry point in May was a lot better so that we are now up on both our purchases, as can be seen on its latest 6-month chart below. What has happened through all of June following the spike in May is that the stock has consolidated in what now clearly looks like a classic bull Flag. The volume pattern whilst this Flag has developed is strongly bullish, with almost exclusively upside volume, which is why the Accumulation line broke to new highs a couple of days ago. Whilst this Flag formed the earlier overbought condition unwound and we saw a bullish cross of the moving averages, which are now very favorably aligned.

The current setup suggests that the bull Flag is about complete and that another sharp upleg is to be expected soon. So we stay long and after Friday’s dip; Barsele is a buy again here. The bullish price/volume of recent weeks when there has been a dearth of news is another positive sign—perhaps there will be some news soon?…

Because volume in the U.S. traded stock is very light, Barsele should ideally be bought (and sold) on the Canadian market.

Barsele Minerals website.

Barsele Minerals Corp., BME.V, BRSLF on OTC, closed at C$0.70, $0.58 on 2th July 2021.

Posted on CliveMaund.com at 2.30 pm EDT on 4th July 2021.

Clive Maund has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years’ experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.

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Charts provided by the author.

CliveMaund.com Disclosure:
The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund’s opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund’s opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.