A quick look at Altius’ recent three month chart may point signs to a short term resistance level.

As you can see from the following chart Altius has recently tested around the $12 – $12.25 level four times over the past three months, including currently. Each time the stock has established support and bounced off of this level. After banging its head on the $14.25 level twice in at the beginning and middle portions of April, ALS.TO managed to head up to the $16 level in mid-may before dropping back down to its current $12.50 level.

With the spot steadying in around the $60 level over May we may hopefully be witnessing a bottom in the market. Only time will tell…