First the disclaimers…
- It’s a gold/silver explorer, and therefore inherently risky.
- I believe it’s got a highly prospective property (Ixtaca, in Mexico), but there is permitting risk ahead.
- This does not trade much volume, averaging 185,000 shares a day over the last 10 days.
- I already own it, as noted in NFTRH.
AAU is inching out of its wedge and above the 50 and 200 day moving averages today. I have seen this stock do this before (just yesterday, in fact) so let’s not get overly excited. But it does tend to lag the sector for some reason and if it should hold above the SMA 200, it could have one of those big pops that these little mining stocks get from time to time. It’s spent a good long while building that consolidation pattern (wedge), after all.
More of an FYI update for anyone interested in doing further research. I will try to do this more often with some of the stocks I hold or NFTRH follows as the sector view continues to firm up.
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.
