Condor Gold Share Discussion Threads

[888icb] 19/2/2021 09:59

MM’s playing games as no change in share price despite volume of 137000 all Buys

[bikwik] 18/2/2021 16:52

Well, CNR has held todays gains and closed at the high of the day. SO, that has left an MACD histogram BUY signal as was mentioned in my earlier post.

As far as gold is concerned, that is currently holding over the key 30 November low of $1764.73. Yesterday it got close to that key support, hitting $1769.65, which incidentally was 55 days (Fibonacci number) from the 30 Nov low.

Today saw a marginal dip under yesterdays low to reach $1768.59 before bouncing a bit. It is oversold enough to get back over $1800 and that would help sentiment a bit but I think if it can rally a bit more it looks unlikely at this stage to get back over last weeks high near $1855.

So with a bit of luck CNR may have the benefit of a rising gold price for the next several days, though CNR's chart may be strong enough to buck a weaker gold price if the key $1764.73 level breaks. Time will tell !

[book5] 18/2/2021 13:43

Goldie
Yes very good
Thanks to him

[connect5] 18/2/2021 13:31

£0.50p proving a tough not to crack as always!

[oldiegoldie] 18/2/2021 13:07

back to topic, Tester123 posted a great comment this morning on LSE - worth a reading

[1airbag] 18/2/2021 12:57

Thanks BIKWIK, very interesting. It has gone up today so something is brewing.

[888icb] 18/2/2021 12:47

Meanwhile CNR has had a good morning Up 6.5% on volume of 345000. It’s almost as if Jim Mellon knows a good deal when he sees one!

[oldiegoldie] 18/2/2021 12:38

@zangdook: The biggest problem of the Sterling is that the Bank of England has basically no gold reserves compared to other countries. ECB has no gold themselves but some of the EU member states (especially germany) have loads.

[bikwik] 18/2/2021 12:19

AS you can see, todays rise has taken the MACD histogram above zero and as long as the price maintains todays gain (or thereabouts) by the close at 4.30pm, then we'll have our buy signal.

If so, and there looks to be a fair chance we'll get that, then it is also fair to say that there should be a another three to four days of gains before we start a fresh consolidation phase.

I also think that the RNS on the placing was very useful in that it seems to have reinforced the strength of demand for condor shares, that is proven by the subsequent price action.

[bikwik] 18/2/2021 12:11

free stock charts from uk.advfn.com

[book5] 18/2/2021 11:37

Here we deal with gold, $USA and Cordobas
;)

[zangdook] 18/2/2021 11:22

I wouldn't bet on sterling. There's always a chance we'll end up rejoining the EU and having to accept the Euro :-)

[oldiegoldie] 18/2/2021 09:41

As a short remark to the "gold as a currency" discussion:
I personally do not believe that the US-Dollar, the Sterling, the Euro or the Yuan will die in the next 50 or 100 years.
Probably some smaller currencies will, but certainly not these 4 world currencies.

The one and only reason why I invest in gold is that, at a certain point, the central banks will have to cover their debt by revaluing an asset that they already own (which is gold).

[888icb] 18/2/2021 09:14

Up 3.3% on volume of just 58000. Looks like some volume should move this higher quite quickly.

[book5] 18/2/2021 08:42

Good start of the day
That 60p needs to be left behind
News should be closing fast

[bikwik] 17/2/2021 23:26

Lastly, does anyone remember the adverts of TV in the 1970's for the access credit card....The early 70,s were when the credit boom began and the discipline of being careful about money went out of the window. Hence the world is now up to it's eyeballs in debt. Eventually these sort of things catch up with you in the end.

[bikwik] 17/2/2021 23:18

As an addition I only add this descriptive piece about Fibonacci as I found it on a website and thought it was quite a good explanation. It is also closely intertwined with Elliott Wave theory and is thus worthy of showing here. Some of you will recognize the 61.8% and 38.2% retracement levels for example and this of course is derived from the Fibonacci number sequence which is the basis of it all. The piece:

Fibonacci numbers
The fibonacci sequence and “golden mean” run through just about everything that happens on earth. You find it all through the stock market, the way plants grow, how the human race populates, in sea shells, and the planets. It also gives hints as to the timing of some major financial events.

The other description which I thought worthy of posting here, particularly as it relates to gold, the tangible shiny stuff that Condor is planning to extract from Nicaragua, is on Currency and Money:

Fiat currency always collapses. It has all through history. “Fiat” means “by decree.” When the reserve currency (the US dollar) became unpegged from gold (in 1971—”Thank you, Richard Nixon!”), it became fiat currency, not money. It’s simply paper, the value of which is nothing more than a promise—a promise to honour it by the US government (our current reserve currency). But the US government is bankrupt, so if there’s fear of repayment at any point, watch out.

[bikwik] 17/2/2021 18:21

1Airbag - its one of the most used along with RSI and stochastics.

MACD stands for moving average convergence divergence. Its the difference between a 12 day and 26 day exponential moving average. The red fluctuating line at the bottom of the chart is the MACD itself, while the blue line is a 9 day exponential moving average (signal line) of the MACD line.

When the 9 day ma crosses the MACD line it gives a signal to either buy or sell.
HOWEVER, this is usually too late, so not much bloody good a lot of the time. But here's the BUT, the black histograms are very useful as you should be able to see.

You are basically looking for the histogram bars to change height, thus meaning the two moving averages are STARTING to CONVERGE and give you a much better buy or sell signal. When the histograms are getting longer that's when the price is trending.

I have put buy and sell arrows on the chart so you can see how it works in practice. Not bad!

The latest signal was to buy....just after the dragon fly doji. (though I have shown a daily close here because MACD is based on the close price). Obviously the price went up but is now coming down again, hence the histogram bars have been dropping back under the ZERO line. One could argue this is a sell signal. However, such a signal would be better if the histograms were ABOVE ZERO. (see the previous 4 sell signals). Therefore, there appears to be a reasonable chance that we will get another buy signal soon. The price could retest the 44p to 45p level again, though with any luck the 61.8% level will hold again and the price rebounds.

We'll just have to wait and see.


free stock charts from uk.advfn.com

[1airbag] 17/2/2021 15:57

BIKWIK, thanks, what is the MACD saying?
I dont remember that indicator from my charting days sorry.

[oapknob1] 17/2/2021 14:10

Really hoping some of you long termers were able to get in on KNB yesterday.

[davidspringbank] 17/2/2021 14:00

Let's see what comes back from the drilling results. It will give the geologists a better idea of the resource base. I reckon that drilling in Nicaragua is one of the cheapest places to drill in the world, compared the cost of drilling in the USA.

[quark3] 17/2/2021 12:49

Thanks Bikwik, always very interesting to see the technical side. How that interacts with the news will be key, but it is good to see a positive momentum building in addition to any news that comes our way.

[oldiegoldie] 17/2/2021 12:47

Yes, if I may add to the chart analysis, from a fundamental point of view the raised money is probably used to clear some issues with land.
For the rest, its either toll milling or selling around 80-100 GBp to Calibre.

[bikwik] 17/2/2021 12:26

Just noticed slight error to wording on chart. The sentence (in purple) that reads ...."Which equals 42p (37p x 0.618 = 13.28p" Should read..."Wave E is 13.28p long (21.5p x 0.618).

The key takeaway from this is that the final wave E of the big triangle pattern has been met and just marginally exceeded its 44.28p target. The day that target was met was marked by the bullish dragon fly doji that I had mentioned in previous posts. If I have any of this wrong then apologies, but given the positive impact that the placing has received, and the chart position, this looks like an excellent investment. Fingers crossed!