ODFTrader

Boliden AB ''Possible Short'' to 78% Fibonacci level

Short
ODFTrader Updated   
OMXSTO:BOL   BOLIDEN AB
We'll see how it plays out. I'll keep you updated.
Comment:
Boliden AB bounced a little higher than expected, it must be the correlation with gold.
We'v seen upside on gold this last month or two, but I expect a drop in gold in the summer period and therefore I think Boliden AB will follow.
Comment:
I can’t be right every time.
The stock went higher than expected but has now dribbled back down to my initial target. See some structural changes.
I need to take a new look at the stock. I’ll keep you updated.
Comment:
Price is back to initial target 233 where I expected the price to drop lower...

On higher time frames, I see more down side for the Stock, but as gold has had it's run in 2019 the Stock might simply follow the gold price, but we'll see.
Comment:
Boliden AB what can I say- my timing was off on this one...

Price action spiked higher along with the gold price and now you can see price dropping as the gold price is in a consolidation...

Sometime timing is everything... I live and I learn..

:)
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.