The spikes can be the result of a number of reasons. Sometime press releases or people buying into thin asks followed by momentum buying. Usually there's an expectation that something good is imminent. CUU has a history of these spikes that never turned into anything. Technical analysis looks great looking back in time but it is not predictive. What I think it is useful for is monitoring trends( CUU is clearly in an uptrend) and giving someone a disciplined approach to investing to reduce emotional buying/selling. Were you able to predict the up spikes? When one happens I wait to see if it might be caused by news coming out over the next week or two. I've seen it occur a number of times with a number of junior resource stocks. The one thing that stands out here is the fact that the update press release has the most significant evidence in 8 years that they may be able to get FMV for SC. Cutting the strip ratio to 1 and almost cutting the op costs in half compared to the FS is incredible. Yet the market has completely ignored the news. That's why I believe the news was priced in.