ASM has entered the consolidation zone between the 2 dashed lines before moving higher. I expect it to zigzag here and then break the upper resistance. You can enter on a stop buy above the upper line or take more risk by buying at the bottom dashed line.
Follow me for the latest junior mining stock picks in the unfolding precious metals bull market. I have over 20 years experience investing in junior mining sector and i will not recommend "junk" or "gamble" plays although many of them will probably do great i only invest in established companies preferably actually operating a mine or future potential of operating a mine such as MAG silver.
I am biased towards silver companies because silver is historically way undervalued as compared to gold. Good luck trading!
Follow me for the latest junior mining stock picks in the unfolding precious metals bull market. I have over 20 years experience investing in junior mining sector and i will not recommend "junk" or "gamble" plays although many of them will probably do great i only invest in established companies preferably actually operating a mine or future potential of operating a mine such as MAG silver.
I am biased towards silver companies because silver is historically way undervalued as compared to gold. Good luck trading!
Comment:
Have a look at this, CDNX stocks (junior mining) above 200 day moving average. There is a silent breakout occurring in the background! Juniors will finally outperform!
Comment:
The JX (cdnx index) is correcting inside it's upper channel line which is bullish action. The long term trend line has been broken. This is one of the most important pieces of evidence that this new metals bull run has legs. The last time the JX outperformed was 2007, before that was 2000 and the real craziness happened in the 1990s when gold rallied up to 400 dollars. For those of you old enough to remember this, it was as crazy at bitcoin mania. The junior miners have been the dogs of the stock market for 3 decades now. The sentiment is so bad that most of these companies stocks are essentially free at this point. I suggest it is time to start accumulating these babies on the cheap and hold them... you cant panic on the wild swings but id say put a stop loss below the lows and try to buy as cheap as possible. Good luck!
Comment:
I liquidated my barrick gold position at the close due to massive selling in the last 5 minutes, to the contrary i seen large buying on silver stocks, so now i am offically 100% in silver mining companies... this makes sense as gold is essentially overbought at this point.
Trade closed: stop reached:
If this thing cannot get it's act together even with the move in metals we just had then i am outta there baby! See ya!