Additionally, we can also observe that ROXG now finds itself trading above all of its important moving averages 20/50/200 DMA's, which depicts a healthy technical posture.
Furthermore, with $Gold now awakening from its six-year slumber (long-term consolidation) and many mining equities lagging behind the physical metal itself, we suspect that the metals equities themselves have some catching-up to do.
Thus, both investors/traders may want to continue to monitor the action closely in the days/weeks/months ahead throughout the mining equities landscape and in particular, those names whom display excellent technical characteristics such as ROXG.
While we believe that and initial objective of $1. 40 is viable, it's very likely that we could see the $160 - $1.75 zone further down the road as the space heats-up.