We have a Triangle Pattern completed on
NGD
with confirmation on many fronts. Let's look at the confirmations.
1) MACD Trend Strategy breakout occurring.
I really love this strategy and it has done really well for me in the past. The sell signal here will be when MACD Line crosses back under the signal line.
2) We are trading above the moving volume weighted average price. Since this line is sloping upwards this can indicate that prices will increase.
3) RSI is at a healthy level of 66 and previously broke out of its trend line. RSI hasn't reached over-bought levels so we still have room to move up. Stochastic ties in here since it is also at a healthy level.
4) ADX/DI Trend is strong in the positive direction. We have wind in our sails with this good momentum.
5) Triangle chart pattern confirmed with higher than average volume.
Here is the chart depicting the above confirmations:
With gold on the rise, this stock has the perfect setup to catch this rally.
NGD
with confirmation on many fronts. Let's look at the confirmations. 1) MACD Trend Strategy breakout occurring.
I really love this strategy and it has done really well for me in the past. The sell signal here will be when MACD Line crosses back under the signal line.
2) We are trading above the moving volume weighted average price. Since this line is sloping upwards this can indicate that prices will increase.
3) RSI is at a healthy level of 66 and previously broke out of its trend line. RSI hasn't reached over-bought levels so we still have room to move up. Stochastic ties in here since it is also at a healthy level.
4) ADX/DI Trend is strong in the positive direction. We have wind in our sails with this good momentum.
5) Triangle chart pattern confirmed with higher than average volume.
Here is the chart depicting the above confirmations:
With gold on the rise, this stock has the perfect setup to catch this rally.