AMEX:TRX   TANZANIAN GOLD CORPORATION
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This week we broke out above that .90cent ceiling and tested the 1.09 level. I anticipate a retest of the .90 cent ceiling as the new floor and then we move higher. I did see a thousand lot option trade this week on the 1 dollar jan 2021 calls. They were bought/sold for .25cents. I find that interesting as the bid ask spread was higher throughout that day. I believe that was an institutional position trade ahead of some big news incoming. I did a fib retracement from the high to the low and the .50 retracement level is 1.24. The golden ratio of the .618 is 1.98 and that is at the low end of my target box area. I think we get a retest of the .90 cent level and that may be a great opp to add to your positions before we head up to 2 dollars. The momentum on the weekly chart histogram of the macd is building and that is a great sign of strength for the stock. I see 1.24 is in the cards here soon. I believe the news that is incoming could really catapult this stock right through these resistance levels. Stay long TRX , this is just getting started in my opinion.

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trendanalysis did you see the news for TRX? You called it!
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pivotaltrader Hi_ho_lets_go
@Hi_ho_lets_go, I didnt see any new news today... Please post it here if you do have something new to share that you are aware of. Chart looks good.

Cheers
-Pivotaltrader
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