It Looks Like Its a Good Time To Buy This Gold Stock
Technical Analyst Clive Maund explains why he thinks Rupert Resources Ltd. (RUP:TSX; RUPRF:OTCQX) is an Immediate Strong Buy for all time horizons.
Rupert Resources Ltd. (RUP:TSX; RUPRF:OTCQX) is an established gold exploration and development company with a substantial defined resource in, of all places, northern Finland. You can check out the fundamentals in the company's latest investor deck, which certainly looks promising, especially given the stellar outlook for gold.
Here, we are going to concentrate on assessing the outlook for the stock.
On the 10-year chart, we can see that the stock rocketed higher in 2020 on the news of a major discovery, but then, as usual, a top formed, leading to a bear market as interest waned during the long interim period of work to bring the discovery forward. The stock overreacted to the downside, again as usual, and bottomed below CA$3.00 late in 2023 before starting to trend higher again on renewed appreciation of the company's resource coupled with a rising gold price.
On this chart, we can see that there is considerable resistance arising from prior trading,g mostly between the current price and the CA$6.00 level, which is why the stock has advanced in a measured manner from the late 2023 low through to the present but clearly, once the price succeeds in overcome this resistance, we are likely to see acceleration to the upside.
The 18-month chart shows us the entirety of the uptrend from the November 2023 low to the present. At first, it plodded higher as it waited for the 200-day moving average to completely fall, level off, and turn up, but now the uptrend appears to be starting to accelerate in the steeper channel shown.
The decidedly bullish alignment of the moving averages, the strong Accumulation line, and the improving momentum (MACD) all augur well for continued gains going forward.
The 8-month chart shows a steeper uptrend from where it began in August of last year, and with the price having reacted back in recent weeks to the lower rail of the channel, this clearly looks like a good point to buy with all of the bullish factors mentioned in the paragraph above pointing to an imminent resumption of the advance.
Rupert Resources is accordingly rated an Immediate Strong Buy for all time horizons.
Rupert Resources' website.
Rupert Resources Ltd. (RUP:TSX; RUPRF:OTCQX) closed for trading at CA$4.25, US$2.99 on March 26, 2025.
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Important Disclosures:
Clive Maund: I determined which companies would be included in this article based on my research and understanding of the sector.Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.For additional disclosures, please click here.
Clivemaund.com Disclosures
The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be construed as a recommendation or solicitation to buy and sell securities.