I was watching KGC this morning, wishing I’d bought it yesterday due to its bullish looking pattern. But the opening gap up kept me on the sidelines. In-day however, it is dutifully pulling back to clear support and so I added it there.
The 15 min. chart clearly shows the gap being filled.
I’ll give it a little slush in which to muck around at support and use it as part of the general gold miner trade. Not married to it or any miners until we get signs that this is more than just a rally and selling opportunity for those so inclined (some may be looking ahead to a 2018-2019 bull market and accumulating).
The buy point is noted as the green shaded support area. The sell point is whenever the rally looks to complete (quite possibly above the Sept. high) and the stop loss is to suit risk tolerance below the shaded support area.
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 your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason), 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.
