Premier Gold Mines Ltd. - $PG.TO / $PIRGF Rounding Bottom
After recapturing its 200 DMA last month (May), Premier Gold Mines Ltd. $PG.TO / $PIRGF has continued to grind higher trading above all of its important moving averages (20/50/200 DMA's) and now finds itself rapidly approaching and important inflection point.
In addition to appearing to have put in a double-bottom at the $1.40 level on the Weekly time-frame, we can also observe from the Daily chart above that $PG.TO also appears to be carving-out a rounding bottom.
Nevertheless, the action remains constructive from a technical point of view as the stock continues to display favorable characteristics.
Moving forward, both investors/traders may want to keep a close eye on the $2.15 level and important inflection point as well as potential short-term resistance. Should $PG.TO be capable of going topside and clearing the hurdle at any point in the days/weeks ahead, such development would likely trigger its next advance into the $2.40/$2.50 zone with a secondary potential objective residing in the $2.60- $2.80 area.
Thus, both investors/traders may want to continue to monitor the action closely moving forward for a potential break into higher ground.
In addition to appearing to have put in a double-bottom at the $1.40 level on the Weekly time-frame, we can also observe from the Daily chart above that $PG.TO also appears to be carving-out a rounding bottom.
Nevertheless, the action remains constructive from a technical point of view as the stock continues to display favorable characteristics.
Moving forward, both investors/traders may want to keep a close eye on the $2.15 level and important inflection point as well as potential short-term resistance. Should $PG.TO be capable of going topside and clearing the hurdle at any point in the days/weeks ahead, such development would likely trigger its next advance into the $2.40/$2.50 zone with a secondary potential objective residing in the $2.60- $2.80 area.
Thus, both investors/traders may want to continue to monitor the action closely moving forward for a potential break into higher ground.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.