GORO: Approaching lowest lows in environment when gold thrives
GORO IPO'd at 90 cents. Since then it went up.
Particularly after 08' crash where it went as far as 30 dollars.
Since then, price went all the way down to 1.14 but never reached back down to original IPO price of 90 cents. So I believe this range has a strong support.
Given current environment. It's possible we may see a surge in price of GOLD due to overall fear in market as well as decisions based on current macro economic environment by the US Gov. Thereby, allowing GORO to rise in price. One thing must come before the other in this case Fundamentals in company look strong enough.
Crypto may be overbought but gold is certainly not.
This is not trading advice, I'm just presenting what I see.
Do your own due diligence and good luck!
Particularly after 08' crash where it went as far as 30 dollars.
Since then, price went all the way down to 1.14 but never reached back down to original IPO price of 90 cents. So I believe this range has a strong support.
Given current environment. It's possible we may see a surge in price of GOLD due to overall fear in market as well as decisions based on current macro economic environment by the US Gov. Thereby, allowing GORO to rise in price. One thing must come before the other in this case Fundamentals in company look strong enough.
Crypto may be overbought but gold is certainly not.
This is not trading advice, I'm just presenting what I see.
Do your own due diligence and good luck!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.