Gatos Reports Record Quarterly Production for the Third Quarter of 2022,
Increases Production Guidance and Lowers Cost Guidance for 2022.
Stage one chart pattern. This is a basing chart pattern. The lows are likely in for a foreseeable time period. If the stock declines, it would likely be market related and not company or industry related. Fundamentals are healthy so survivability is not an issue. Dollar-cost-average (DCA) approach to risk management is suggested.
- RSI is above the 50% line. Positive.
- MACD is neutral, ready to go positive probably will with today’s price action.
- CMF – an accumulation or distribution indicator, is ready to go positive.
LOTM related account owns Gatos. Our long term (two to three year price goal is $10 to $12.
| Analysis | Overall | Short | Intermediate | Long | |
| Bearish | Neutral | Bearish | Bearish |
Price and technicals are in position to turn positive in a short period ‘if’ the price rises above the 50-day and 150-day MA. The 150-day MA is at $3.44. Current price is 10/12/22 is $3.21.
Gatos is seen as a value and fundamental purchase at this time – not a technical buy. But – technical going positive would add new buyers to the stock.
LOTM is very optimistic on the silver industry from a limited supply and high demand perspective.
Written October 12, 2022, by Tom Linzmeier for Tom’s Blog at https://lotm.substack.com/
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