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Technical analyst Clive Maund charts a young gold company that he believes "is going places."

Revival Gold Inc. (RVG:TSX.V) is a young gold stock that looks like it's going places. After starting trading in March it immediately went into a steady uptrend that later accelerated into a peak in August–September, after which it ran off sideways into a rectangular trading range that has continued up to the present, as we can see on its 1-year chart below. This trading range looks like a consolidation pattern not a top, and if so we can expect the price to break above the resistance at the top of it in due course and enter another uptrend.

With the gentle downtrend of the past few weeks having brought it down towards the lower boundary of the trading range, it looks like a buy here, and a stop may be placed beneath the support at the lower boundary of the range, in case it does the unexpected and breaks lower. Note that although Revival is a stock traded on the Canadian Venture Exchange and the U.S. OTC market, its chart is not available in Stockcharts, hence this Stockwatch chart.

Revival Gold Chart

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MARKET SUMMARY

INDICES

Name Last Change
DOW 26211.80 0.57%
S&P 500 2906.19 0.60%
NASDAQ 7964.23 0.86%
TSX 16152.67 0.44%
TSX-V 720.70 0.00%

Resource Commodities

Name Last Change
Gold 1198.69 0.03%
Silver 14.16 0.56%
Copper 2.63 0.000
Platinum 812.61 2.04%
Oil 68.91 0.12%
Natural Gas 2.81 1.67%
Uranium 27.33 0.80%
Zinc 1.04 0.00%

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