PGCR has started Trading Sideways

You can click on the chart of PGCR above to see it full size (note please ignore the x axis monthly dates because they are incorrect, the price is correct but the dates are wrong. It is the only way I could get the data in my charting program).  I still like the way PGCR is trading so far.  It continues to trade sideways now near the longer term triple bottom support area. 

I continue to believe that PGCR could be close to a spike rally north.  If I am wrong then I think the best alternative is to see PGCR trade sideways for a longer period of time. The 13 day moving average has still not crossed above the 50 day moving average but it is awfully close.  Volume has really dried up as of late, but is that surprising in August? 

If PGCR is able to keep trading sideways without breaking below .002 then to me it would be a bullish longer term development because the stock could be building a big base and longer term cause for the eventual move up.  But it is imperative that PGCR is able to hold .002 .  Perhaps the best shot PGCR has for a repeat type super spike rally is the October to January 2009 time frame.  Rest assured I will post here when I see important new developments.

I have said before that I would love to see the gold price spike up and break 1000 sometime in the next month.  In my opinion it would go a long way towards support PGCR’s longer term potentially bullish setup.

PGCR may get an upward spike at any time however and some of the indicators that I follow are telling me that PGCR could spike up as soon as this week.  But please do not take that prediction to the bank. 

PGCR needs to get above .0045 before I can say with more clarity that it has truly finished bottoming.

Placer gold has the clear potential to spike to .01 to .03 cents in a matter of days in my opinion.  But a spike like that may need to be triggered by news which has not been out since June 9th, 2009.

I still feel we are dealing with a powerful setup, but the main risk is that PGCR stays flat for many many months and never really gets a rally going.

With a little luck we will get the gold price to start cooperating so that a public obsession with gold stocks can start .

Get an edge over other penny stock traders with the most powerful penny stock screening tool available today. No other mainstream broker has penny stock screening tools (for pinksheet and OTCBB stocks) like this. Try it free for 30 days or learn more about its features.