Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Streetwise Reports (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Is Now Time To Buy This Graphite Stock?

% of readers think this story is Fact. Add your two cents.


Source: Clive Maund 05/06/2024

Technical Analyst Clive Maund examines Graphite One Inc.’s charts to explain why he believes now may be a good time to Buy.

The intensifying debt crisis is expected to lead to a capital flight from all debt instruments and fiat generally into tangible assets and specifically into commodities such as graphite, all of which are expected to soar. This being so we are now believed to be at a favorable point to buy Graphite One Inc. (GPH:TSX.V;GPHOF:OTCQX) stock as it has reacted back over the past year or so to a zone of strong long-term support that we can see to advantage on its 20-year chart below.

On this chart, we can also see that when it broke out of the giant bullish Falling Wedge downtrend early in 2021, it soared before settling into a broad trading range over the past several years.

Superficially, it looks like it may have broken down from this trading range late last year and this year, but an advantage of this long-term chart is that we can see that it has not broken below the strong long-term support that dates back as far as 2008 – 2009. So, this is a very good point for it to make a major reversal to the upside.

Zooming in now via the 5-year chart, which shows all of the action so far this decade, we see that Graphite One has a habit of making dramatic spikes higher that are followed by long cooling-off periods or reactions.

The current reaction within the downtrend shown has been going on for something over a year now, which is about “par for the course,” and with it having brought the price back to the zone of strong long-term support that we saw on the 20-year chart and also to the more recent support arising from the support level just beneath the current price associated with the trading range that formed during the latter part of 2020, this is considered to be a good point for it to break out of the downtrend into a new uptrend, which if past performance is anything to go by, could be sharp.

The recent rising Accumulation line and gradually improving momentum (MACD) are supportive of such a breakout soon.

On the 6-month chart, we can see that a quite prominent bull hammer formed on good volume on the first of this month, which suggests that the short-term downtrend in force from March has run its course.

On this chart, we can also see the positive divergence of the Accumulation line this year and that the stock is oversold now on its MACD indicator, which increases the chances of it reversing to the upside.

The conclusion is that this looks like a very good price area to buy Graphine One, which is expected to break out soon from the downtrend shown on the 5-year chart, which is “getting long in the tooth,” and if it does it should be noted that, as on prior occasions, the resulting rally could be sharp, and even if it only makes it back up to the vicinity of its highs of recent years (this decade) it will still result in a more than three-fold gain from its current price.

Graphite One’s website.

Graphite One Inc. (GPH:TSX.V;GPHOF:OTCQX) closed for trading at CA$0.70, US$0.513 at 11.35 am EDT on May 3, 2024.

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

Important Disclosures:

  1. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. 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. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

  2. This article does not constitute investment advice and is not a solicitation for any 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. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

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. 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 cannot be only be construed as a recommendation or solicitation to buy and sell securities.

( Companies Mentioned: GPH:TSX.V;GPHOF:OTCQX, )


Source: https://www.streetwisereports.com/article/2024/05/06/is-now-time-to-buy-this-graphite-stock.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Humic & Fulvic Liquid Trace Mineral Complex

HerbAnomic’s Humic and Fulvic Liquid Trace Mineral Complex is a revolutionary New Humic and Fulvic Acid Complex designed to support your body at the cellular level. Our product has been thoroughly tested by an ISO/IEC Certified Lab for toxins and Heavy metals as well as for trace mineral content. We KNOW we have NO lead, arsenic, mercury, aluminum etc. in our Formula. This Humic & Fulvic Liquid Trace Mineral complex has high trace levels of naturally occurring Humic and Fulvic Acids as well as high trace levels of Zinc, Iron, Magnesium, Molybdenum, Potassium and more. There is a wide range of up to 70 trace minerals which occur naturally in our Complex at varying levels. We Choose to list the 8 substances which occur in higher trace levels on our supplement panel. We don’t claim a high number of minerals as other Humic and Fulvic Supplements do and leave you to guess which elements you’ll be getting. Order Your Humic Fulvic for Your Family by Clicking on this Link , or the Banner Below.



Our Formula is an exceptional value compared to other Humic Fulvic Minerals because...


It’s OXYGENATED

It Always Tests at 9.5+ pH

Preservative and Chemical Free

Allergen Free

Comes From a Pure, Unpolluted, Organic Source

Is an Excellent Source for Trace Minerals

Is From Whole, Prehisoric Plant Based Origin Material With Ionic Minerals and Constituents

Highly Conductive/Full of Extra Electrons

Is a Full Spectrum Complex


Our Humic and Fulvic Liquid Trace Mineral Complex has Minerals, Amino Acids, Poly Electrolytes, Phytochemicals, Polyphenols, Bioflavonoids and Trace Vitamins included with the Humic and Fulvic Acid. Our Source material is high in these constituents, where other manufacturers use inferior materials.


Try Our Humic and Fulvic Liquid Trace Mineral Complex today. Order Yours Today by Following This Link.

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

MOST RECENT
Load more ...

SignUp

Login

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.