If I am correct about this being the latter stages of this leg of the bull market, then if we are holding gold stocks we will have to get used to holding stocks that have gone up a lot. The best technical buying opportunities from here on, if one feels a need to buy, will be consolidations. Sure, miner A can buy miner B, junior C could do a financing or miner D could get clobbered by local politics. There are situations where individual stocks can get smacked down without a moment’s notice.
But all things being equal, the best stocks are way up there and consolidations are would-be opportunities. RGLD is in consolidation above and below the 50 day moving average. The pattern looks bullish. A Symmetrical Triangle is maturing and RGLD will at some point break out, to the downside or, if the Sym-Tri works as a continuation pattern (as it “should”), to the upside.
RSI has been knocked well down from overbought, as has MACD, which is still in positive territory.
Just a low priority FYI that can be applied to other stocks as well. As you may know, I own RGLD. All things being equal, I’d like to hold remaining shares * at least to HUI’s current target (500).
* Profit was already taken on a partial position.
NFTRH+ trade setup ideas are presented for consideration and further research only, not as recommendations. I may or may not personally take positions in all or even most NFTRH+ ideas, as it would depend on my portfolio composition at any given time. “Stop loss” and target levels are usually noted and should be respected.
