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Mining Company Now an 'Attractive Speculative Buy'

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Source: Clive Maund   05/26/2022

Analyst Clive Maund reviews Astra Exploration’s newest updates, sharing his rating of the company after promising drill results.

Astra Exploration Inc. (ASTR.TSX.V) is a junior exploration stock that is targeting gold and silver in northern Chile, and the reasons that we are looking at it this morning are that its chart is shaping up well and it came with good drilling results just this morning.

As Astra only came to market late in January, a six-month chart is sufficient to show all of the action in the stock. On this chart, we can see that soon after it started to trade it went into a quite severe downtrend that resulted in its losing more than half its value by the time this downtrend ended on the first of April with a bull hammer. After hitting bottom it reversed into a gentle uptrend which is continuing and the reaction of the past several weeks back across this uptrend channel to its lower boundary is viewed as presenting a buying opportunity, especially given the good drilling results that were published this morning.

Astra Exploration is therefore viewed as an attractive speculative buy here for another advance across the uptrend that could result in good percentage gains.

Astra Exploration website

Astra Exploration Inc., ASTR.V, closed at CA$0.19 on 24 May 22.

Originally posted on CliveMaund.com on May 25th, 2022.

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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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.

Disclosures:
1) Clive Maund: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Astra Exploration Inc. Click here for important disclosures about sponsor fees. 

3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. 

( Companies Mentioned: ASTR.TSX.V, )


Source: https://www.streetwisereports.com/article/2022/05/26/mining-company-now-an-attractive-speculative-buy.html


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