She bounced and danced right where she was supposed to. Support line has been confirmed for the third time. Now she needs to break resistance line and she will fly.
She has gotten some great news lately even with the hedge short manipulation on low volume. The short float is almost at an all time high yet money flow the last couple of days has been in the positive. Someone has been buying in the dips. Positives - Paris climate deal - 30% tax credit from the US government extended - repaying loans and opening up credit...
Gold is at a major inflection point and might... just might be taking off soon. Time to load up...
Looks to be breaking out from the long term resistance... can it hold? Over 1168 and it will be confirmed. $NUGT
Notes on chart. I will be buying (more) when I see the technicals bounce and change direction. Or selling 1/3 at 2.59. I hold 18,761 shares at an average of 1.79
MACD is up, Volume up, Gap up on news, fib line support, shorts covering, broke pennant... with lots of room to move UP... going to load up over 3.27 and watch for a swing.
Broke the pennant, MACD has bounced and we are above the cloud with limited risk... she needs to ride the north side of the line down as support... until Wham'mo!! we get some VOLUME!$!
needs to break out of downward trend. buy order in ar 1.88 and 2.0. Will sell below 0% fib line.
Hitting bottom fib line and support of 7.06... need good CC and w volume she will run. Todays beat down was nothing more than weak hands as it was very low volume. Smart Money (MFI) has been ingesting since April. RSI is ready to pop and MACD has crossed since mid April. Upper gap still technically needs to be filled. Will watch earnings and buy on volume......
If what they have done is true it has plenty of room.
Major convergence of all time...
If it does we need more pumpers. Buy order set lower from last entry. Needs to get over 3.62 with BIG volume to run up on 'negative' earnings. The last couple of times it has missed by a penny it has gone down the next three days on average. Although this time is 'different' with the roche backing and the upcoming catalyst... but my crystal ball says it is...
Notes on chart with significant events and trend lines.