Is This Mineral Company Stock About to Break Out?

March 10, 2022

Source: Clive Maund   03/07/2022

Technical analyst Clive Maund takes a look at Barsele Minerals’ chart and explains why he finds it attractive.

Barsele Minerals Corp. (BME:TSX.V; BRSLF:OTCQB) is looking better than for quite a long time and it is believed to be about to break out from the downtrend that has been in force from last May, as we can see on its latest 1-year chart below. Whilst the price has been stuck in a downtrend since the peak late last May, all the while its Accumulation line has been trending higher, which is a background positive factor that normally leads to a reversal. So it is interesting to see that a potential basing Triangle has been forming in recent weeks that has been accompanied by a significant increase in upside volume. This suggests that it is getting ready to break out into a new bull market and the pattern that has formed over the past couple of weeks since the sharp rise on good volume early in February looks very much like a bull Flag, with yesterday’s uptick on strong volume probably the precursor to a breakout.

The conclusion is that Barsele Minerals looks very attractive here for a breakout into a new bull market and it is rated an immediate speculative buy. Barsele trades in generally light volumes on the U.S. OTC market where limit orders should be employed.

Barsele Minerals website

Barsele Minerals Corp., BME.V, BRSLF on OTC, closed at C$0.49, $0.37 on 28th February 2022.


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Originally posted on CliveMaund.com at 6.30 am EST on 1st March 2022.

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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4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Barsele Minerals, a company mentioned in this article.

Charts provided by the author.

CliveMaund.com Disclosures:
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.