Description: GGN is trending higher and in an uptrend meaning that highs are getting higher and lows are getting higher. The uptrend line on the chart and the Trending Band Indicator (which measures trend) supports the Long Position.
Stats:
1. Ideal buy range: $3.6 - $3.7
2. Take profit: $3.94
3. Stop Loss: $3.53
4. Risk To Reward: 1 / 3
5. Accuracy Rating: 86%
GGN is a closed end fund I've been sitting in for about 7 months now. It pays a 13% dividend which is very nice to accumulate. It also pays out monthly.
Gold and Oil are both starting their bull runs. 66% gold and 33% oil in this fund. Their underlying assets are a lot of metals and energy companies. They write covered calls to generate the income this stock produces.
