matthewallott1991
Long

Randgold - Forward looking Gold stock

NASDAQ:GOLD   RANDGOLD RES LTD
44 0 2
Why is Randgold my favorite gold             stock? Randgold is unique in the sense that price in this stock moves before the overall gold             market, thus giving a strong heads up as to where the gold             market is going in general.
Look at my previous chart on the Gold             Index ( GC             ), you will see price moving up to test its descending trend-line. The key take away between these two charts (Randgold and Gold             index GC             ) is that despite identical price action, Randgold has actually broken its descending trend-line and has had 3 consecutive closes above it now, suggesting that Gold             index will do the same soon.

Currently, Randgold seems a little extended (tucked up to its 3 standard deviation band), however I will be buying this on any pullbacks for a move up to 75-76 where a nice confluence cluster sits consisting of the 1.272 retracement of the prior swing high to low and 100% extension of the low to high to low.

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matthewallott1991
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matthewallott1991 about SPY 10 months ago
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