Gladiator Metals Corp. (GLAD:TSX) is a copper stock that was the subject of an email alert yesterday; it is looking most attractive here following a multi-month reaction back to its rising 200-day moving average above which a Double Bottom base pattern has formed in recent weeks. This looks like a classic "buy spot," with it having broken out of the earlier downtrend, just completed the second low of what is believed to be a Double Bottom, moving averages in strongly positive alignment, a bullish volume pattern that is driving the Accumulation line to new highs, and momentum (MACD) starting to trend higher from oversold.
It's really hard to ask for more. The only thing that would trim its sails would be an all-out market crash, and while that is a lurking danger, it doesn't look like it will happen in the immediate future. From the look of the chart, it is suspected that there may be some good news forthcoming soon.
Gladiator Metals is therefore rated an Immediate Strong Speculative Buy. You may recall that we went for Gladiator last month rather too early at CA$0.50, but now it looks even better.
Gladiator Metals closed at CA$0.45, $0.328 on August 24, 2023.
Originally posted at Clivemaund.com at 8.30 am EDT on August 25, 2023
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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.
