TANZANIAN GOLD CORP – time for investors to START LOOKING FORWARDS INSTEAD OF IN THE REAR VIEW MIRROR…
Tanzanian Gold stock got clobbered by a big financing last December, and then it got beaten down further to a low in March when the entire market caved in, including gold stocks, so it has remained “under a cloud” since the financing, never really recovering with the sector in April, and it is only in the past week that it has started to perk up, as we can see on its latest 6-month chart below. It is now clear that a base pattern has been building out since last December that has allowed time for sentiment to recover and for its moving averages to start to swing into a more positive alignment. An especially positive development is the improvement in the volume pattern that has led to a marked improvement in the Accumulation line in recent weeks. This, coupled with momentum (MACD) swinging positive, suggests that it is getting ready to break out of this base pattern at last.