TANZANIAN ROYALTY EXPLORATION update...

originally published Friday, February 15, 2019

All Gold & Silver Stocks

Tanzanian Royalty has broken out of the Pennant pattern as expected, as we can see on its latest 3-month chart below, but upside volume has been lacking and follow through has been weak…


On the 14-month chart we can see that it has arrived hesitantly at a resistance level in an overbought state…


And on the 3-year chart we can see that this is an important resistance level…


The action of recent days suggests that it is likely to stall out here and consolidate for a while and very possible react back some. It is therefore considered prudent TO SELL AT LEAST HALF OF ANY POSITION HERE AND AWAIT DEVELOPMENTS. We are up on this again after our latest purchase at a good point. We can buy it back if it reacts back sufficiently. In the meantime the freed funds don’t need to lie around doing nothing, they can be redeployed into Nexus Gold, whose huge record volume yesterday after our article suggests that it is building towards a breakout, that could happen quite soon.

Tanzanian Royalty website

Tanzanian Royalty Exploration Corporation, TRX, TNX.TSX, closed at $0.66, C$0.87 on 14th February 19.


Posted at 9.20 am EST on 15th 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.