A snapshot to show the daily chart progress of 3 large gold stock Amigos, the likes of which are probably the best indicator on what the sector (HUI) is doing.
I hold GOLD after buying last Friday. That buy was before confirmation that a new surge was likely. Today it has ticked a higher short-term high and is trying to break resistance. If successful, the implication is for a new high.
AEM is trying to do something similar. It needs to clear 63. As with GOLD, it is above the SMA 200, the up-turned SMA 50 and the short-term EMA 20. Looking good. I have it on watch.
NEM tapped clear support and is in a constructive little pattern clear of the EMA 20. But a take out of the SMA 50 is what should set it in motion.
GOLD and NEM are in firm up trends and AEM is trying to reestablish its uptrend. If today’s signaling holds up it appears we will be on the next leg up (1st target on HUI is 375).
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.
