FNV is apparently being puked by the the institutions that no doubt piled into the premier gold stocks during the Corona-panic. They must be busy chasing value (that’s sarcasm) in the broad stock market now that the Fed has created a sentiment backdrop where it’s okay to think the worst is over and you can throw your devaluing munny units at stocks again.
I digress. FNV’s first logical pullback point is the rising 50 day average. That is where an eager buyer could take an initial position, I guess. For me, I’ll wait out a drop to the 38% Fib (where a gap would fill) at least. But if the sector takes the deepest projection per this morning’s HUI update, a 50% Fib pullback at 115 corresponds with a clear lateral support area.
The trends of both moving averages are solidly up on this fairly well diversified (incl. Energy & PGMs) gold royalty company.
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.
