Wednesday, August 18, 2010

Gold and a golden stock

Here is a quick look at gold which had impressive intraday action today and looks good for a move higher.

Support - 119.57
Next target - 122.19

And here is a weekly chart of a gold stock that I like here which is at multi year highs. The close above 4.25, the previous high from 2006, was important today.

For some more gold picks, here is the link to a post that I did yesterday.

Take care and good luck!


Anonymous said...

What is your opinion on NG? Thanks

positiontrader said...

Nice catch! I like it here. Nice bounce of MA(50) and MA(200) today. First target - 7.20 if gold continues to cooperate. Good Luck!

Anonymous said...

Chart does look great. I believe NSU only has one mine in a sketchy African country. So there is country risk and mine risk. Due to this, there are much better alternatives like EGO, IAG, etc.

positiontrader said...

Thanks for the info! As always, I have no idea except for the chart as I believe all the information should be factored in already. AUY also looking good.