CNMC Goldmine has hit the horizontal resistance at $0.61 yesterday and today again which was also the previous high made on 7 july , with the recent gold price retracing from its recent rally , Cnmc Goldmine may also be resting a bit having test the $0.61 resistance level again .
In fact a message was sent to our clients on 3rd August to watch it for further upside at $0.53 and it hit our targeted upside of $0.595-$0.61 yesterday and today. Pretty decent in our humble opinion.
Currently We think Cnmc Goldmine may pullback to its previous support levels of $0.525 -$0.55, since gold has been pulling back .
However if it can break above the $0.61 resistance, this may bring the stock to its all time high of $0.665 back in 2011 .