I have held my 4 top gold stocks (KLDX, SAND, BTG & SAM.TO, which was increased on its downside drift) but am looking at some laggards as well. I am watching two quality seniors that have lagged due to lofty expectations and matching valuations. They are GOLD and GG.
GOLD did not live up to expectations on its quarterly report. If I recall correctly, there were some operational issues in play (please do your own fundamental DD if interested). The result has been an extended consolidation.
The stock is at the 50 day moving averages, and there is a gap at 95. It could hold here if the sector stays firm. But stingy would-be buyers looking ahead may wait to see if the gap fills. This could be dependent upon what the sector does near-term.
GG is breaking consolidation today and moving above the 50 day moving averages on what could be decent volume by day’s end.
The weekly shows a hold of support after making a somewhat ugly pattern and even uglier MACD formation. Last week’s lows would be a key in risk management.
I am not going to use the usual buy, sell, stop parameters but rather, just leave it fairly informal as an idea. I think enough aspects of the technical situations were noted above in order to have general parameters in place.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for further research if interested. 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. Due diligence is your responsibility.
