Tanzanian Gold Corp. (TRX:NYSE; TNX:TSX) looks like it is at an optimum buy spot right now, for reasons that are set out on its latest 6-month chart below.
Because the nearby strong support is sharply defined, there is the option to set a close stop just beneath it, which risks being shaken out, of course.
Tanzanian Gold website.
Tanzanian Gold Corp., trading at $0.78; CA$1.03 at 12.32 p.m. EDT on 7 October 2019.
Originally posted on CliveMaund.com at 1.05 p.m. EDT on 7 October 2019.
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.
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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.
