Western Exploration Inc. (WEX:TSX.V) is a junior exploration company focused on gold and silver discoveries in northern Nevada, and the reason that we are looking at it here is that its fundamentals are sound and its stock looks like a Buy here after its reaction back to support of recent months, especially as the sector now looks set to turn higher.
On its six-month chart we can see that although its trend can be described as broadly neutral from the start of the year, it has actually held up well considering the declines suffered by many stocks across the sector.
After an impressive rally during the first half of June, it then reacted back to lose all the gains and it has now arrived back at a zone of quite strong support where it is viewed as a Strong Speculative Buy and a worthy addition to a junior portfolio.
Western Exploration website
Western Exploration Inc. closed at CA$1.25 on July 14, 2022.
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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.
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