I have held the bottom dwelling Premier Gold (PG.TO, PIRGF) for a long while now and was pleased to see it finally make a move recently. So what does that move do for the stock?
It makes it a candidate to change its trend as it has risen above both the 50 and 200 day moving averages. It is getting overbought now though. If it takes a pullback from overbought look for 1.75 as key support. That is where a lateral shelf and the SMA 200 meet up. Click for clearer view…
The weekly chart shows that a severe downtrend channel was broken earlier in the year. It is in a potentially bullish ‘W’ pattern. A cross of the 2.05 area resistance would set a measured target for around 2.60. If interested in this miner a pullback to the SMA 200 would be a place to position. If you want to be miserly about it, see if you can get the SMA 50, currently at 1.65. I start not to like it if it goes below that level.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates 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) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
