This has worked out nicely for us as it has done exactly what was expected in the last update on it
posted on the 19th March, when we observed that it had just broken out of a Head-and-Shoulders bottom and was poised to accelerate to the upside – that it has done, gaining over 48% in less than a month. The purpose of this update is to point out that it is now extremely overbought and closing on a target at last year’s high at C$0.60. So it is considered prudent to TAKE PROFITS IMMEDIATELY
into strength while it still exists as when these juniors rise a lot it often tempts management to weigh in and soak the market with a heavy funding. I have no information that this is the case here, but it is believed to be a growing risk. If it continues higher after we sell it doesn’t matter because there are plenty of other good stocks to relocate the proceeds into that are nowhere near as overbought that we will be looking at shortly.
Arizona Silver Exploration website
Arizona Silver Exploration Inc., AZS.V, AZASF on OTC, closed at C$0.55, $0.413 on 14th April 23. The stock trades in reasonable volumes on the US OTC market.
Posted at 6.00 pm EDT on 16th April 23.