gold, page-65324

First 65324 Last

Share
Profile

Follow
johnstocks

1,002 Posts.

2

01/02/20

02:22

Post #: 42686991
Share

Originally posted by Pointyfigures: ↑

Gold stock sentiment indicator
Looks like holders, particularly of speculative stocks, are tired of waiting.
Stocks in the top 50 or so of market cap are holding firm. Smaller stocks are punished.
The set-up is similar to what happened in May last year.
We all know what happened after that.
Blue sky stocks like PRU continue to march forward.
Stocks with resistance like NST struggle to break out.
There might be a sell-off today so if you want some quality stocks there are few better opportunities than over the next few days.
I am tempted to rebalance but I cannot be sure how long this pull back will last.
The good thing about the markets at the moment is they are a technical traders dream. Particularly the all ords.
You do not have to worry about fundamentals.
This includes gold stocks where there is an obvious disconnect between the fundamental (gold price) and stock values.
The rise of the USD cannot be ignored.
I will be flipping through a heap of A/D charts today to see what buying/selling pressure is in place.
I suspect a lot of smart money is selling into strength while weaker hands are buying dips.
Here is the sentiment indicator.

Expand

With gold prices heading to $1600 USD per ounce and many junior gold companies having challenges to finance their projects, Guyana Goldstrike's management delivers a creative and non dilutive way to finance their advanced gold project Marudi and is set for drilling for new gold deposits.

Symbols: GYA.V / GYNAF
Upvote

0 Great analysis

Reply

Top Stories

ASX Market Update: Shares fall flat as GYG soars on debut | 20 June, 2024

Your questions From the Floor: Investment experts respond...

GYG

Guzman Y Gomez shot up nearly 40% in first hour of trades. Can it last?

TM1

Shares up 196% on Terra's news of major reef discovery at Dante

BRX

Belararox delineates another porphyry in Argentina at Tambo South