An NFTRH subscriber requested a chart view of Tahoe Resources, in light of its friendly merger with Rio Alto Mining. I thought I’d pop it up here as a public post. I think the weekly works best for this one.
12 (with allowance for quick spikes below) is absolutely critical support for TAHO. File that under ‘duhhh’. It held support in December and then was driven down to test it again in February with the RIOM acquisition news. It tested and Hammered, which was obviously very good.
It would become actively bullish with a trigger up on MACD (just about there), RSI bumping above its flattening EMA 20 and the trend line breaking. Pretty simple.
I have not done much gold/silver stock charting and certainly have not obsessed on this sector like some who work the miners exclusively. That is because the sector’s fundamentals are only partially in line and its technicals, still unconfirmed with respect to any new bull market.
But boy, when I get my confirmations NFTRH especially, is going to chart the hell out of these things because sooner or later I have sound reason to believe that ‘quality’ gold stocks are going to be the next big, extended trade.