City Trades: Avocet missile fizzles.
Investors Chronicle - magazine and web content, June, 2009
Byline: Brian Monaghan
TRADING IDEA: After shooting up impressively, this miner looks at risk of losing altitude
Gold miner Avocet has enjoyed a fantastic surge back up to 90p in recent trading sessions, says Brian Monaghan at paddypowertrader.
Yet again, though, it has struggled to break above the resistance in that area. Even more negatively, Avocet Mining has formed a bearish "dark cloud cover" pattern on its candlstick chart. This formation frequently occurs at share price tops. Failure to break through the 90p resistance barrier soon could result in a slump back down towards 70p.
IC Trades are written by Investors Chronicle writers. City Trades are written by selected external contributors. Both are based on the...
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