TANZANIAN ROYALTY EXPLORATION update...

originally published Friday, February 22, 2019

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An email alert for Tanzanian Royalty was sent out at the open this morning which read as follows…

“Tanzanian Royalty Exploration alert

The pattern forming in Tanzanian Royalty is now suspected to be a very bullish "running Flag", which is an upwardly skewed Flag. If so we are at a good entry point here with the price close to its lower boundary. So it is considered to be time to buy back whatever you sold close to the peak about 4 days. IMMEDIATE STRONG BUY AGAIN. Keep in mind that the upside potential of this stock if gold proceeds to break above $1400 is HUGE.

Tanzanian Royalty TRX, TNX.TSX, closed at $0.575, C$0.76 on 21st February.

Update with chart on site later today.”


As promised in that alert we will now proceed to look at the latest 3-month chart for Tanzanian Royalty on which we can see the presumed bullish “Running Flag”, meaning an upwardly skewed Flag that is still forming. If this interpretation is valid – and the positive volume pattern overall suggests that it is - then the price is now very close to the lower boundary of the Running Flag and therefore at a good entry point. The reason that the Running Flag is so bullish is that it indicates that the primary uptrend is so strong that it has the effect of skewing the Flag to the upside. If that is what is going on here, then not only are we at a very favorable entry point close to the lower boundary of the Flag, but an upside breakout will lead to another very strong move similar in magnitude to the one leading into the Flag.


It is therefore considered to be a good time to BUY BACK WHATEVER STOCK WAS SOLD AT THE RECENT PEAK at the point shown on the chart, and new purchases here are in order.

Should we see a deeper reaction across the sector there is some risk that Tanzanian Royalty breaks down from this pattern and drops back to the support level shown on this chart. To limit loss in the event of this happening a stop may be set at say $0.544. However, the earlier price / volume pattern is very bullish, making it much more likely that it starts higher again from here.

Tanzanian Royalty website

Tanzanian Royalty Exploration Corporation, TRX, TNX.TSX, trading at $0.59, C$0.76 at 10.10 am EST on 22nd February 19.


Posted at 10.35 am EST on 22nd February 19.

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 stockmarket 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.