First off, please don't take anything I say seriously or as financial advice. As always, this is on opinion basis. That being said, let me get into my insights. I do expected Royal Gold to have a positive earnings call in the upcoming 5 days, and currently it already is on a bullish curve with many investors giving it buy ratings. This is why I am calling at least...
Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
NASDAQ:RGLD is one of the leading stocks in gold mining industry. It started major rally earlier than majority of other miners last spring. And was one of the first stocks to caution that pullback is likely in AMEX:GDX in January 2020.
Right now it sits right near major support level, and in bullish scenario this is constructive level from which new leg higher...
RGLD Long play $114 Entry. Stop $112.
Looks like it bounced 200 MA twice and it may move higher, it rejected 20 MA recently on daily. Earnings coming up, gold has been booming.
RGLD may print better than expected earnings.
I'll hold through earnings and double down if it breaks out past the 20EMA+50EMA into a strong pattern or into congestion around it.
135/125 Put Spread
Gold is sky rocketing while Trump and Friends are making some progress with the Chinese SPY is rising on good news so is the SSE and gold is plummeting
Put Spread $3.8 Cost (PRICEY) 10 point spread.
$250 max loss max gain is $310.
Max loss is possible if GOLD keeps rising but since its sinking could be good for me.
Put Spread on RGLD
Cost is expensive. $2.21 5 point wide, exp nov 15.
Max gain will be $3.21 and max loss is $150, $100 gain if Its in a money on both spreads.
Target exit will be $114
Pullback, price tightening, uptrend,...inflation . Per Dalio, this is the end of the long-term debt cycle.
Long gold and silver long term $SIL, $EGO, $KGC, $KL, $FNV; shorting the $IYT and $IWM on pops (day trades)
Near-term Risks: trade deal with China and/or lowering of interest rates
It is very easy to read price action if you have a reference point. These support/resistance lines are there to help you read where the buyers and sellers are likely to make a stand.
MasterChartsTrading Price Action Indicators show good price levels to enter or exit at trade.
The Blue indicator line serves as a Bullish Trend setter.
If your instrument closes...
This would be the sexiest stock at the bear right now if it could wear a thong. Nice upside. Higher highs on track with gold and higher lows based on the uptick in gold volume. I would load up on the low end of the range and unload near the top. Rinse and repeat.
RGLD is trending apart from the SPY its not overly effected by the market movement, Breakout past $80 holding till $90 Bought a call Strike $80 at 2.45 exp jan 18 with a stop at 1.25.
