Gold Resource Corp. is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada. It engages in the exploration, development, and production of metal concentrates and dore. Its products include gold, silver, copper, lead, and zinc. It operates through the following geographical segments: Mexico; Nevada;...
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!