JNUG trade ideas
JNUG Short-term PennantPennant setup may indicate a break down will continue after the previous fall. It will be interesting to see how this plays out.
$JNUG Primed for a Dead-Cat Bounce?JNUG is the levered junior gold miners ETF. This has been torched from $100 to under $5 in a matter of weeks because these are heavily indebted companies that can no longer mine for gold because of virus concerns even as the price of gold surgest to test multi-year highs. But even a brief reprieve could produce big gains if well-timed.
Pick up JNUG on the dipJNUG recently dropped from $100, and it made a run at $13, only to get pushed down to $4. It is extremely volatile and could move 50% any day. It is also oversold so you can pick it up for very cheap.
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JNUG Capitulation SnapbackJNUG has had a crazy decline in its ETF due to the fall of GOLD. It has blown past oversold signals and now has capitulated, where the sellers have all gotten out and now there are only buyers left. Today had 20x relative volume of selling. This signals to me a bottom in Gold for the time being. The risk is 5:1 with no real downside, as GOLD will not go to zero. Taking a standard risk of only 2.5% of my account in this play.
JNUG to Explode to $135-140+ Soon; $240 in April a PossibilityI posted quite a lengthy idea recently regarding my thoughts on Gold and where I believe Gold is going; to avoid repetition, I will attach the idea below for those that are interested in background analysis.
As for JNUG, I believe within the next 10-14 trading days we may see JNUG explode to roughly $140 with only very small to small pullbacks. Towards this level we will eventually overshoot off this level and whether we trade in a new channel remains to be seen. Not until we get closer to the 130 level will I be able to confidently conclude whether JNUG may continue to explode higher in due time, or if there will be a more meaningful correction. At this time based on fundamentals and how significantly miners are lagging Gold Spot price, we will likely overshoot this level in a massive way.
Therefore, with most mining stocks severely lagging the price of Gold Spot, if we can get a relatively significant-ish pullback in equities (5-10%), yields continue to fall (or stay low), and the virus more importantly, continues to linger (as it is), we could see JNUG explode to the $240 level by late March, or within the first two weeks of April.
Not until Silver gets to at-least , $22.50ish can we begin to draw conclusions that a near-top MIGHT be upon us.
Near-Term Target (Mid March or Sooner): $135-140
Potential Target (Early-Mid April or Sooner): $240
- zSplit
Crazy OverreactionI honestly don't know what's going on here.
Gold was down less than 1% today and yet JNUG is down nearly 20%.
Honestly I think this is a great buying opportunity as far as gold goes and the gold miners.
bull flag about to finish in this bull 3x etf minners goldI , in this time buying and buying carefully step by step this bull minners gold etf (watching powerfull bull flag in this time frime)
Buy Gold (Jnug x3)Gold is investors favorite indicator for crisis or relative growth (gold bearish). As Coronavirus spreads. Gold will rise.
