Although the Precious Metals Miners are a bit of a mixed bag, there are a couple of interesting stocks for an aggressive long setup. One of the opportunities is New Gold (NGD).
Strong bullish divergence in combination with sector outperformance (near-term) suggests a fierce recovery move is getting under way. A bounce well into the CLoud resistance is the least...
Hi guys, I'm Rob from Macro Insights. Today I have a piece on Gold outlining why from a probabilistic outcome Gold is a fantastic opportunity on the long side. I believe you have to look at each asset and analyze 1) the macro top-down picture, 2) a fundamental bottom-up analysis of the asset, 3) what is the positioning/sentiments & 4) you gatekeeping, technical...
Looking at one gold miner we could see a possible bottom is taking place. Gold miners *usually* go up for only a few reasons.
1) Price of gold is rising
2) They found what they were looking for
3) They found more than they were looking for
This bottoming structure is a symptom of #1
We see a nice Triangle forming, and heading onto a possible breakout.
As we are in a longterm down trend, the breakout will possibly be to the downside. Still I advise us all to wait for the breakout and then even for a retracement if you are conservative.
As usual, I wish you all the best
The weekly breakout has arrived. On the verge of a major reversal. I see this going to $6 per share. I believe we could reach double digits long term.
I am long from 2.56, 2.77, 3.15, and 3.05
NGD is trading in an uptrend and at the moment it is in a corrective phase. If the rising trendline holds i'm expecting a new wave up with a potential gain above 30%. A strong breakout of the rising trendline invalidates this setup.