OK, what do we have on the chart?
Well, since the end of August 2009 this stock seems to have sprung alive. On September the 3th, a couple days after Otis Gold announces the granting of stock options we see a first big increase in volume to a then whopping 658K shares traded which is quite a lot for Otis at that time.
From that day on volume has to be called fairly average with some very good volumes early on, some cool-down periods and since the last couple of days we seem to be on the increase again. Any which way you look at it, Otis Gold Corp. isn’t a stock where, after you buy shares, you can’t seem to get rid of them. Nope. This stock is well traded so there will be no problem to either buy or sell your shares.
On the MACD chart we can see we are below the center line which normally is negative unless we are below and our way back up above that center line. So, in this case we did have a bullish MACD cross-over, we are moving back up on the MACD but until we get clear above that center line we aren’t out of the woodwork’s.
Doesn’t mean Otis Gold Corp. isn’t well on its way to get out of them works.
Not only are most indicators pointing in the direction I would like to see them pointing…Otis also seems to be getting out of the long down-ward sloping trend line. Call it falling wedge or whatever. When Otis Gold Corp. crosses above that line technically speaking this stock has broken out of the downward trend pattern from the last couple of months.
Sure, I know it is just a line but I am not the only person that looks at these charts and probably not the only one who will draw the same conclusions and act on them.
However,…looking at Otis their last news release, Otis Discovers Significant CSAMT Anomalies Underlying Kilgores Dog Bone Ridge Gold Target Area, who knows…when they can confirm something as to whats in the ground, then those with an entry around these levels will be well rewarded I’m sure cause we already have a high of $0.80 on the boards. Coupled with a few good days of trading to get out of this wedge and the market will probably make Otis do a re-test on that very same trend line and instead of breaking down through it, instead find support on it.
That’s one possible scenario which can and do happen after a break-out from a certain channel.
I do not make these things up myself you know, that is just the workings of the market and your task to spot them…or rather in this case…my task.
No weekly necessary, that is no different from the daily. We are just waiting for a break from the trend line and a re-test.
When that has happened it will provide the safest entry to those interested in a venture on the Venture with Otis Gold Corp.
Anything below $0.45 would be considered bad of course. Due diligence everyone! Don’t forget, the market is not just a chart and indicators, there is still a company and real people behind most everything so take everything into account before investing. That goes for Otis Gold and that goes for basically every other stock out there on the market.
Disclosure : I do not own shares in Otis Gold Corp.
|Feb 09, 2010||Otis Discovers Significant CSAMT Anomalies Underlying Kilgore’s Dog Bone Ridge Gold Target Area|
|Dec 17, 2009||Otis Gold Samples 16.5 Metres Grading 237 G/T Silver at Buckhorn Property|
|Dec 16, 2009||Otis Drills High Grade and Bulk Tonnage Intercepts At Kilgore|
|Nov 13, 2009||Otis Gold Closes Forced Conversion of Warrants|
|Nov 2, 2009||Otis Gold Closes Private Placement|
|Oct 21, 2009||Otis Gold to Commence CSAMT Geophysical Survey on Kilgore Dog Bone Ridge Gold Target|
|Oct 14, 2009||Otis Announces Non-Brokered Private Placement|
|Oct 7, 2009||Otis Announces Additional Drill Results Including 55.4 Metres of 6.15 g/t Gold at Kilgore Gold Project|
|Oct 2, 2009||Otis Gold Announces Forced Conversion of Warrants|
|Aug 31, 2009||Otis Gold Announces Granting of Stock Options|
|July 14, 2009||Otis Gold Commences Kilgore Drill Program and Completes Private Placement|
|May 15, 2009||Otis Announces Private Placement|
|April 7, 2009||Otis Drills Additional High-Grade Gold Intercepts at Kilgore|
|March 2, 2009||Otis Drills High-Grade Gold Intercepts at Kilgore|
|January 23, 2009||Otis Discovers 1.5km Anomaly Under Blue Hill Creek|
|January 14, 2009||Name Change to Otis Gold Corp. and Corporate Update|
|November 24, 2008||Otis Capital Announces Results of the AGM|
|November 12, 2008||Otis Capital Receives Kilgore 2008 – 2009 Drill Permit|
|October 9, 2008||Otis Acquires Cold Creek Gold Project|
|September 16, 2008||Otis Capital appoints Dr. Don E. Ranta as a member of the Board of Directors|
|July 16, 2008||Otis Capital Completes Qualifying Transaction|
|June 10, 2008||Otis Capital Signs Joint Venture Agreement on Kilgore Gold Project and Related Assets|
|April 22, 2008||Otis Capital signs MOU to acquire the Blue Hill Creek Gold Deposit|
|March 4, 2008||Otis Capital closes private placement|
|February 12, 2008||Otis Capital Increases Private Placement|