pivotaltrader

TRX Long Accumulation (Junior Mining Co)

Long
AMEX:TRX   TANZANIAN GOLD CORPORATION
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6
Check out TRX , small junior mining stock that is now in production. I have position and think it could really take off here if financing is put in place and the production results exceed expectations. I see the .618 is very reasonable first target from here. Also have a small position in the 1 jan 21 calls. There are other investors who are buying calls as open interest continues to grow. Gold up here around 1800 an oz and looking to take out the old highs towards 2k positions this stock to really take off if they execute their mining plan. This is a great time to be accumulating a position in my opinion. 2x your money in stock alone at 1.68-2.00 dollar level. Not a bad risk reward here given the catalysts. Long TRX
Comment: volume looks good here, approaching 1 million shares traded and looking like were holding the .80-.81 level, like to see this daily close towards the highs on big volume. The financing should be announced very soon. I think that will really push the stock price up but have to wait and see.

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