GGIGaribaldi Resources is a speculative gamble play in the Golden Triangle area . They control a significant land package there and have been in a massive 6 year declining wedge pattern .
GGI trade ideas
GGI.V -- Oversold and forgotten high grade Nickel and Gold PlayGGI has hit some rough patches recently but the macro looks very favourable with lots of attention on ethical Nickel, thanks to Tesla Battery Day. The Nickel Mountain Deposit hosts some of the highest grade Nickel on the planet. The head geologist Dr. Peter Lightfoot is one of the top Nickel experts in the world with many mining textbooks to his name. Billionaire Eric Sprott holds 20% of the float.
Few know this but GGI also plans on drilling their high grade Gold property Casper where they reported a discovery early this year.
The stock has not seen a lot of love despite the project getting de-risked and the deposit extended. A death of the helicopter pilot near the site added to the negative sentiment.
GGI is now deeply oversold with strong historical and Fibonacci support at .50. Approaching a 52 week low set during the March market crash. I like the risk/reward at current levels. I am being told that the company is setting up for a marketing push shortly.
GGI.V -- Downtrend break signalling reversalGGI.V has broken the downtrend after bouncing off oversold RSI levels. Bullish MACD cross, bullish Stoch/RSI action confirming trend reversal. Long-term support band near .70 has now been tested and held 3 years in a row. I am long at .69 - .71.
GGI Weekly ChartGGI holding weekly support level at .71 . Mental stop loss at a close lower than .69 .
GGI Pullback- Buy now!GGI experienced a pullback in an up-trending market (Usually 3-4 days of pullback before its next move up).
Try to buy in around 2.90. I am expecting GGI to reach a level of 3.40-3.55.
Stop loss at 2.7 or approximately its trend line.
Gold looking bullishThis particular company keeps getting mentioned by Eric Sprott on his public weekly podcast.
In the last few days, we see it rallied on higher volume and has pulled back on very light volume. That should suggest short term bullishness out of this bull flag, although I think the longer term outlook looks good too.
It is steadily making higher highs and higher lows at this point, on its way to form an large cup (just like the chart of XAUUSD).
FWIW, Eric Sprott's private placement was at $2.50 a share. I own some from $2.12 but wish I could add more today.
GGI Cup Pattern FormationIntermediate term. Wishful thinking perhaps but watching this develop regardless. Coincides with drill program starting at end of Q2.
GGI Picking up Steam on Double BottomOverdue news release coming at any moment. Double bottom forming very bullish chart. Look for next step up to $5+ early next week? Strong assay results would have massive impact if confirmed in news release. Sure to be some fireworks either way.
GGI
Bullish Signs on Nickel MountainSignalling another jump up. Well set up for catalyst early next week that should take share price to the next level. GGI.
