NFTRH+; A Nevada Gold Explorer in a Technical Setup

I don’t identify some of these stocks in the title because I don’t want the public to know about them.  When they are larger and highly liquid like IBM or FCX, fine.  But not the likes of GSV or recently, FANUY.

Also, as pertains to GSV, this is strictly a look at the technicals.  It is highly recommended that anyone interested be up to speed on the gold exploration sector and the company itself.

Today GSV is making a clear break above the top of its consolidation/down trend channel.  On the consolidation it held the SMA 200 and is now above the 50 day and shorter-term moving averages.  If the breakout holds, the measurement is to around 2.70.  But a long consolidation like this can also be a precursor to new highs, in time.

gsv daily

Here is the weekly view for reference.

gsv weekly

I am going to leave it simple, without formal parameters.  I think the daily chart is worth all those words.  If trading a breakout, then a drop below 2.20 could be considered a failure.  If trying to position for a longer-term trade, a fade to 2.25-2.30 could be considered to initiate a position.  If the breakout fails, another test of the SMA 200 is not out of the question, although that is not expected since it has already occurred after an extended consolidation.

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.