EGDFF Crosses Critical Technical Indicator
In the case of Energold Drilling Corp, the RSI reading has hit 28.9 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 43.5, the RSI of Spot Gold is at 33.3, and the RSI of Spot Silver is presently 32.2.
A bullish investor could look at EGDFF's 28.9 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Looking at a chart of one year performance (below), EGDFF's low point in its 52 week range is $1.655 per share, with $4.52 as the 52 week high point — that compares with a last trade of $1.69. Energold Drilling Corp shares are currently trading down about 5.7% on the day.