JNUG to Explode to $135-140+ Soon; $240 in April a Possibility
I posted quite a lengthy idea recently regarding my thoughts on Gold and where I believe Gold is going; to avoid repetition, I will attach the idea below for those that are interested in background analysis.
As for JNUG, I believe within the next 10-14 trading days we may see JNUG explode to roughly $140 with only very small to small pullbacks. Towards this level we will eventually overshoot off this level and whether we trade in a new channel remains to be seen. Not until we get closer to the 130 level will I be able to confidently conclude whether JNUG may continue to explode higher in due time, or if there will be a more meaningful correction. At this time based on fundamentals and how significantly miners are lagging Gold Spot price, we will likely overshoot this level in a massive way.
Therefore, with most mining stocks severely lagging the price of Gold Spot, if we can get a relatively significant-ish pullback in equities (5-10%), yields continue to fall (or stay low), and the virus more importantly, continues to linger (as it is), we could see JNUG explode to the $240 level by late March, or within the first two weeks of April.
Not until Silver gets to at-least, $22.50ish can we begin to draw conclusions that a near-top MIGHT be upon us.
Near-Term Target (Mid March or Sooner): $135-140
Potential Target (Early-Mid April or Sooner): $240
- zSplit
As for JNUG, I believe within the next 10-14 trading days we may see JNUG explode to roughly $140 with only very small to small pullbacks. Towards this level we will eventually overshoot off this level and whether we trade in a new channel remains to be seen. Not until we get closer to the 130 level will I be able to confidently conclude whether JNUG may continue to explode higher in due time, or if there will be a more meaningful correction. At this time based on fundamentals and how significantly miners are lagging Gold Spot price, we will likely overshoot this level in a massive way.
Therefore, with most mining stocks severely lagging the price of Gold Spot, if we can get a relatively significant-ish pullback in equities (5-10%), yields continue to fall (or stay low), and the virus more importantly, continues to linger (as it is), we could see JNUG explode to the $240 level by late March, or within the first two weeks of April.
Not until Silver gets to at-least, $22.50ish can we begin to draw conclusions that a near-top MIGHT be upon us.
Near-Term Target (Mid March or Sooner): $135-140
Potential Target (Early-Mid April or Sooner): $240
- zSplit
Order cancelled:
Due to an equity bear market that was unforeseen by everyone, this trade is unfortunately cancelled.
If the trolls could find something else to do and stop going on experienced users' accounts on month old charts and pm'in everyone that would be appreciated lol.
Black swans wipe out technicals.