Several of the smaller gold stocks I follow are making similar patterns by daily charts. They are shown below for your review.
We have been viewing the correction as still potentially being within a rally phase. Hence, bullish flags would be appropriate to that view.
As you will see in the charts, what I thought might be ‘best’ support is lower in each case, except for AKG, which hit its support level.
Also, I have included PG.TO (PIRGF) as an NFTRH+ update due to its bullish looking Inverted Head & Shoulders. The H&S is not activated, but it would be if it breaks and holds above the neckline resistance.
As for the ‘flag’ charts, I am not setting targets, just showing you an inkling to the sector. But if these breaks are successful, they would target new highs. If they are not, the noted support areas would be important.
KGI.TO
LSG
AKG
AR.TO
PG.TO
Buy Target: 2.40 (I bought this on weakness on 1/30/15, so I am holding under a different regimen than an NFTRH+ trade)
Measured Target: 3.20
Stop Loss: Below 2.30
A reminder that chart based NFTRH+ updates are just trade setup ideas, which may not be revisited as the parameters are already noted. They are meant as a starting point for further research if interested. Fundamentals-based ideas are also provided for your further research only. I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst.
