We last boughtjust over a month ago on the 8th June at what turned out to be a good entry point that was the result of being beaten down by a major funding.
Having seen the news about China cutting off the U.S. from rare earth metals, I figured that Defense Metals would be a big beneficiary of this action, since its production is in North America, and prepared a new chart for an update on it, but, mindful of the measuring implications of the Head-and-Shoulders top shown on its 6-month chart below and the staircase down pattern, got discouraged when it opened flat. So I put it on back burner and did other things but when I looked at it later in the day it had broken higher and, giving it further consideration I realize that given geopolitical realities, this is a stock that will probably go much, much higher.
It is believed that a major new uptrend in Defense Metals has just been birthed so we stay long and it is rated an immediate strong buy.
Defense Metals website
Defense Metals Corp DEFN.V, DFMTF on OTC, closed at C$0.24, $0.182 EDT on 10th July 23.
Posted on CliveMaund.com at 7.50 am EDT on 10th July 23.
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