Golden Phoenix Minerals, Inc. GPXM
GPXM is new to our reports this morning. It caught our eye for a number of reasons, including one heck of a strong chart setup.
Recently, from May to June, the stock ran from .009 to .0328 for a 264% gain. Since that time, we’ve seen a consolidation and we’ve found a level of support at the .015 mark. The stock has been trading in a tight channel in the meantime, bouncing around between .015 and .022. A break of that resistance at .022 could really send this thing shooting back to recent highs in the low .03’s.
The 20DMA is rising toward a Golden Cross with the 50DMA. The RSI is pointed northward, holding above the 50DMA overlay, and appears as if it wants to head toward the powerzone. (Currently 55.98, Powerzone: 70-90)
The Slow STO is hooking up, looking ready for a cross as well. We’d like to see it continue to hold above the 50DMA overlay, which we will take as a sign of strength.
Barchart is currently giving GPXM a Buy Rating
ARNA, EBIG, THWI