If your bullish on gold prices, Alamos could be a great proxy to invest to.
Major 5 Wave downmove was followed by a minor 5 wave correction higher towards 10$.
Now we had an ABC correction towards 6$ of this 5 wave bull move. Market formed a classical flag and broke impulsivley out of it to test 9$ resistance.
I am looking for a corrective type of move towards...
Alamos Gold Inc. Is a Canada-based company, which engages in the acquisition, exploration, development and extraction of precious metals. But, for me after a great fall, there exists a possibility of a strong recovery. A break over the red line could be a positive sign to buy this stock.
Alamos Gold broke its recent low today. Next retrace fib support is the 38.2% at 5.81 (white line). Remember, my fibs are calculated outside tradingview, all log-scale.
Pattern looks like a possible Ending Diagonal in (v) of C of (2). Can try to catch the knife here. Safer play is to wait for an initial impulsive pattern off the presumed coming low, then buy...
Not completely convinced Alamos Gold has bottomed in (2). Here's a notional projection if it has. Deeper (2) would actually raise these targets slightly. Stop at 6.04, or as deep as 4.50 if your position is small enough and your horizon long enough...
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...
