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Alto Ventures Ltd. (TSXV:ATV) CEO thinks they could be sitting on 7 million oz of gold

Alto Ventures Ltd. (TSXV:ATV) CEO thinks they could be sitting on 7 million oz of gold

Buz Investors Alto Ventures Ltd If historical drilling results are any indication, Alto Ventures Ltd. (TSXV:ATV) have good reason to believe that they could be sitting on millions of ounces of gold. In this new interview with SmallCapPower, ATV’s CEO and Director, Richard Mazur,


Alto Ventures Ltd

details the company’s plans to explore its Oxford Lake project in Manitoba, where the particular style of deposit tends to host large, high grade gold resources. Not to be outdone, the company is also exploring its Destiny gold project in Quebec where they also see significant exploration potential.

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FB Stock Sitting in No Man’s Land

Facebook Stock Chart Suggests Caution Is Warranted


Buz Investors  No Man’s Land  Facebook Inc (NASDAQ:FB) stock, I had to step away from a previous bearish view and assume a neutral stance because the price action on the FB stock chart suggested that higher prices were likely in the interim. Even though bearish signals continued to mount on Facebook stock, stepping aside was the prudent course of action.

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No Man’s Land

The pattern where my original bearish view was derived from is still in play. If FB stock stalls at the current levels, it could indicate that my previous bearish view was not ill-founded.

bearish rising wedge is a technical pattern

The rising wedge was completed in November, when stock exited the pattern in a downward direction following a disappointing earnings announcement. This event is highlighted as a breakdown on the FB stock chart above, and this was where my bearish view on Facebook stock was created.

A completed rising wedge, where price exits in a downward direction, implies bearish consequences. The theory surrounding these patterns is that the price will retreat to the lowest point from which the pattern began to develop. This implies that Facebook stock is set to test the August 2015 lows at $72.00.

Over the next two months, the stock traded within a range (highlighted in purple) that at first glance, looked like a continuation pattern developing. But when price exited the pattern in an upward direction, it confirmed that this trading range was in fact a reversal pattern. The confirmation of a reversal pattern indicated that higher prices were likely, and this is the reason I had to step away from my bearish view and assume a neutral stance.

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