Giant volume bar and huge price shelf acting as support ready to pop soon
Gold Spec play. $VGZ Vista Gold. One of the very few quality junior gold investments that has a realistic shot of near term buyout or new mega mine build at any price above $1200 GLD. Brownfield, permits in place, would be third largest gold mine in Australia, 750 AISC, 10million oz resource, 400-500k yr production, less than 1 billion build cost, and can be in...
Im painfully new @ this guys! I shorted this stock @ .82 on 2-16 -18 to take profit @ .80..... Why didnt my take profit short limit sale order get filled ???
I am expecting this stock to make a run upwards, likely after a consolidation at $0.76, or a correction to $0.73 If the stock corrected at $0.73, it may be pretty hard to make that upwards push. However, with the 9 day MA supporting a smooth correction/consolidation plus good bull volume moves, the possibility is undeniable. In addition, let's hope this stock...
I think miners are looking good. VGZ has no debt, and is my lottery ticket of the miners I own.
I know I've posted ideas on some of the sub-$1 miners, warning that positions should be kept small until we get confirmation. So far, a good start to proving the correction is over in wave (2). The larger 1-2 will add confidence. Retraces may be small in a presumed wave (3), and I'm not sure about the timing as my analysis isn't a timing system. Just watching...
Posting this idea to explain what I'm doing with all my fib calculations. And trying to convince TradingView to program the calculations as a selectable option in the Trend-Based Fib Extension tool. The Fib Retracement calculation is quite similar. Its' the exponent of the difference in LN(price points) multiplied by the desired retrace % as I recall.
Penny stock (currently). Not for the faint of heart. I didn't take a second mortgage for this position (and neither should you). Something like a lotto size position, if you must. Note: positive divergence holding nicely on MACD, but wave (2) box goes some -43% deeper...
For something trading under $1, gotta be careful. But then look at what some other miners that have been beaten down managed to do earlier this year... I'm holding a small long position and adding periodically.
VGZ has broken a lower degree descending channel. I'm expecting to test the upper channel. Let's see how it develops.
VGZ needs to take out 2.03 to continue run towards 2.7. Must not break below 1.62. More downside risk below 1.35.