A technical look at the stock
rallied from $4.59 in January, 2019, to $13.49 in February, 2020 , and reversed the trend briefly in March, 2020 , then quickly returned toward the previous high .
The stock settled in a slightly descending channel for almost three years and, after a brief dip below this channel in July , started an up-leg which pierced above the top of the channel to signal an important breakout . Behaviour indicators including the rising 40-week Moving Average and the rising trend line confirm the bullish status. Lundin Gold is currently in the midst of a minor correction for a better entry level. There is good support near $12-13; only a sustained decline below the 40wMA would be negative.
After a correction, Point & Figure measurements provide an initial target of $17. Higher targets are visible.
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