nftrh plus

NFTRH+; Gold Explorer in a Potential Bottom Setup

GSV is a stock that we had a successful, albeit short-lived trade on in January as it was just starting to break upward from an extended downtrend. It is also a stock that has apparently been beaten to a pulp as part of the GDXJ rebalance situation. If you think that the damaging effects of that announcement due at the end of this week will drive the affected items lower, then have caution. Personally, I am not at all sure that will be the case.

Indeed, GSV looks like it is bottoming ahead of the announcement. It is valid to ask ‘have these things been sold out ahead of time in anticipation?’

Regardless, the chart is the chart and GSV is right on the cusp of a new post-crash high. That is also known as resistance, so there is no active pattern yet. If it becomes activated the target is 1.90 to 2. That’s no great shakes (10% to 15%) but maybe of interest to people who follow the stock as a longer-term hold or prospective hold.

gsv

We’ll keep it informal and simply note that a break above current resistance of 1.75 targets a bounce higher. I’ll also try to add this to a multi-stock list so if you have any other small miner or explorer suggestions to go with it please let me know.

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.