GOR is my gold stock. I got in early sold a portion taking some profit and re-buying lower a couple of times so that I am basically free carrying the stock so that I haven't played that game for a while. I am just carrying long now.
I post charts regularly on other stock chart threads, but haven't posted on GOR for a long time.
I was looking at the monthly charts and saw one of my favourite charting patterns potentially forming, hence my post.
It's a very big cup and handle pattern. See chart below.
I am anticipating in the coming month the right lip of the cup forming around the 2.00 mark. If this happens then I will be anticipating a profit taking pull back for some months to form the handle. The handle is crucial to shake out the weak holders setting up for the next upward run.
Once the handle bottoms out the run upward needs to run above the right lip and then we are in for a breakout surge.
This is just the way I deal with the markets, through the charts, so that I am not surprised by what plays out. As always DYOR
So the first step along the way is to head to somewhere in the range 1.90 - 2.10. If it doesn't happen then it's not a cup and handle pattern.
We shall see
GOR Price at posting:
$1.75 Sentiment: Buy Disclosure: Held
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