$FNV pulled one on most of us today with the rip down on the news that sank the stock right back to retest low end of range with lower volume and potentially a higher low. Again this was a gift from the gods. Keep an eye out for it to run at some pt. Won't lag too much
Playing Trading Simulator Game:
I was checking out this stock on New Years Day.
Stochastic Oscillator (14,3,1) looked positive.
5SMA - 20SMA looked positive.
Short term trend is positive.
Long term trend is positive.
On 2JAN18 bought 500 shares at $79.98.
Price started dropping, bought more to dilute my average buy price.
2JAN18 bought 500 shares at ...
Like many, I don't believe good times last forever. I like having a portion of my portfolio in gold/mining indexes as a safety net but I've been very disappointed by returns. FNV tremendously outperforms both GLD and GDX - I can't really imagine how well this company will perform when GLD/GDX start seriously uptrending. The 1.08% dividend while I wait is just ...
Franco Nevada reported 30c vs 25c concensus on Monday sending the stock on an Fast Ball XRV move to the upside. A continuation on Tuesday will have us long the stock with an overhead target at resistance.
I haven't looked at Franco Nevada in a long while, maybe since March. White count was generated back then. The target box for 3 of (1) is unchanged; price met that objective. In this pattern wave 4 should have held above 61.47 top of 1 (see red line), but since it didn't I'll need to revise my count.
Might be looking at another (1)-(2), 1-2 here ...
Franco Nevada reached the target box for wave (iii) of 3. Still looks like it needs OMH to complete the micro pattern. I'd like to see MACD make a new high as well, then negative divergence form on MACD into the wave 3 price high. My stop is indicated at 67.83. See other miner ideas for more discussion.
Gold/Silver miner whether Junior or Not, the stock are being punched viciously all over.
However, i realized that these two stocks are indeed making a higher high since Jun 2013.
Is there any secret?
P.S. the latest high was taken out, is there a bear?