WXYXZ correction shows to have some violent price action. The price action could be putting in a double bottom formation, but could also dip down further. This could be a good one to watch as if the correction is complete then we can expect some fast impulses up.
In my opinion this looks to be a continuing uptrend that has the potential to reach Target 2. Follow your strategy and enter when you feel comfortable. Remember to continue to monitor the stock and adjust stop loss accordingly.
What resistance line is important here, for be a confirmed resistance breakout ?
For me the horizontal line around the 3.70 level who takes one year and six months doing resistance to the advance of the price.
But based in the good performance of other mining companies accompanied with a bullish gold futures; why to wait for more confirmation and in the process...
At this time on weekly TRQ is hanging on lower edge of CLOUD indicator, which is last support on chart to either go up and make $2.60 as a support. This would be a great stoke to go long with and buy shares or options with. Has 5.32B market cap. and volume of over 2,700,000 a day. Please do homework.
TRQ seems building some upward momentum. It crossed above EMA lines and Moneyflow is building up.
If it can break above $3.05 it will have a good run up to 3.23 & higher.
You can check our detailed analysis on TRQ in the trading room/ Executive summary link here-
www.screencast.com
Time Span: 24:40"
Trade Status: Pending
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NYSE:TRQ
