Sandstorm Gold (SAND) per Request

Another subscriber request, this time for gold royalty company Sandstorm (SAND). I’ll add this back to the weekly NFTRH list as well so I’m not spending too much time out here doing individual gold stock charts.

We find SAND (daily) in much the same posture as the sector, ticking a cycle high off a pattern that would have a nice upside measurement, assuming support holds. The major trend (SMA 200) is up and SAND will now try to turn the intermediate trend (SMA 50) back up.

Up volume is much better than down volume, it’s a little overbought by RSI and MACD and AROON are positive.

sand

The weekly chart shows the 2016 low left is in the dust, not with the authority of BTG shown earlier, but as with other gold stocks that had taken out the 2016 high and then gotten destroyed on the Corona fear fest and deflation scare (AKA when you buy gold stocks) I think that it is really meaningful that these things are starting to take out the 2016 high for a second time. Once, you could say head fake. Twice, it’s more real.

Initial support is noted above at 7.60. But more important support is in the 6.40 to 6.60 area, which takes into account the gap and moving averages above and the 2016 high on the weekly.

sand

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