As traders scan the equity market, they may be using Simple Moving Averages to help figure out where a stock is headed. Following some SMA levels for Gold Resource Corporation (:GORO), we can see that the 10 day is 4.54545, the 20 day is 4.440685, and the 30 day is 4.3901234 for Gold Resource Corporation (:GORO). Tracking some other time periods, we note that the...
GORO - Double Hook Break Out
Price failed to break 4.20's resistance
in late Dec; another hook forming -
may re-test this area; a break over
4.20 & 50ma could see move to 4.70's
100ma and recover to 5.25 200ma
I like the price action on this chart. Reminds me of Bitcoin chart. ABC correction underway, and if price hits $2.60 area and we see green volume rushing in then that would be a good sign we are on the next wave up (Wave 3).
This gold miner stands out as one that has not "sold off" during this recent Gold decline.
It could be shaping up nicely as a longer term hold.
Logical stop would be below the trendline, or 10% from here.
With the new weakness in the dollar and yesterday's pop in Gold, prospects look good.
Well using this indicator I finally decided to get out while I'm ahead. Check out the chart just over 17% return for this trade. Happy trading everyone.....going to still keep my eye on this for future trades!
World stock index is booming a, index breaking record. therefore investors are expecting sooner or later a correction of the equity stock market. this is a long term investement for not less than 1 year. the EPS TTM is 25.59. After a declining trend for serveral months is there a new trend. i expect the stock price above 5.00
Trading against the reversal of an Ending Diagonal is never a good idea. Price frequently returns to, or exceeds, the starting point. Gold Resource Corp might have another squiggle lower to complete wave (2). I'd like to see some positive divergence set up on MACD.