We first bought Vista Gold early in November since which time it has been basing with some wide fluctuations as we can on its latest 6-month chart below. It reacted back on the sector dip following gold’s failed breakout attempt at the end of last month and appears to have yesterday made a Double Bottom with its mid-November lows, although it hasn’t quite gotten to those lows, but considering the dramatic sector reversal yesterday it is thought likely that it will take off higher again from here. Although it didn’t rally much yesterday it put in a bullish “dragonfly doji” on its US chart and an even more bullish candle on the Canadian chart so it looks like it will get moving soon and is rated an immediate buy here. Note that the stock of the Canadian traded shares is considerably more bullish with a volume buildup in recent weeks and a strong Accumulation line.
Vista was the subject of a buy alert email sent out earlier today.
Vista Gold website
Vista Gold Corp., VGZ, VGZ.TSX, closed at $0.33, C$0.47 on 13th December 23.
Posted at 9.25 pm EST on 14th December 23.