Franco Nevada: Earnings Surprise Volume Spike

I'd already been holding KL, but FNV caught my eye after positing a solid 32% earnings surprise and a volume spike to accompany it. I like they because they're diversified across more commodities than just gold and precious metals, and they're doing well in a sector that's seeing a lot of established players losing money. Technicals are looking good with the MACD histogram positive and climbing for the past few days. RSI just broke 50 leaving oversold territory with plenty of room to go. ADX is 22 showing a possibility this reversal could quickly form a trend, and DI+ broke above both ADX and DI- showing that the prior downtrend is in the rear view mirror.

You may want more confirmation, but I'm already long and plan to hang on for as long as I can remain in the trade. I suspect defensive plays like this will be the trade du jour for the entire month of May with only the last week or first week of June being the first reprieve from the trade war showdown playing out.

Trade active:

Going strong and one component of the strategy that's keeping my portfolio afloat today.