An intraday high potential, Back Tested Long Analysis.
We ll try to enter into the correction of the downtrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
One of the best gold/silver stocks based on fundamentals just made a reversal on critical support. Very underpriced stock, trading below book value. Stock is extremely oversold both on weekly and daily based on Williams%R oscilator and just made bullish daily reversal (big marubozu candlestick) on support.
I see 2 possibilitys here either fortuna is under a accumulation or redistribution i know this may seem like a redistribution theres a chance this was a terminal shakeout if we creep up back into the prior tradingrange that would be utterly bullish. This stock seems to be in weak hands hence the possibility for a shakeout.
Whether direction it goes we should be...
With silver still coiling in its base, I still see an explosive rally possible in the future. Patience is still required but the last few months have not been all that difficult. Silver seems well supported in this area.
My other silver miners have done well, like PAAS.
By breaking below support, Gold has also dropped to ICL levels from which it should rally. ...
Shares of basic material companies are surprisingly surging up after several days of down consolidation. Companies such as Alamos Gold Inc., Golden Minerals Company, B2Gold Corp, Fortuna Silver Mines Inc. and Gold Fields Limited are performing extremely bullish for the last two sessions during which two vital bullish candle patterns have been formed: engulfing...
FSM seems reaching at a level where it couldn't make higher. However, Since June, FSM's volume are increased significantly. It indicates that some Momentum traders accumulated around here(6.00-6.20). This is a good bet to move higher with the smart money.
money flow rising -waiting for opening confirmation bar
get our book on amazon for entry and exit rules with stop loss parameters
j hook pattern
relative strength good
cci and percent r in upper ranges
above weekly cloud
+ FSM poised to re-test a recently broken resistance line.
+ Its current trajectory is set to meet the line where it intersects the lower pitchfork prong, amplifying the impact of a break-out.
+ If broken, consider its relationship with its 0.382 Fibonacci retracement level. A pull-back to previous highs from here is characteristic of a natural retracement...