Trans-Siberian Gold Plc (TSG) - Long Trade
Updated
Trans-Siberian Gold Plc engages in the acquisition, exploration, development, and production of gold-mining assets in Russia.
Price has taken a bit of a beating of late due to recent news. But it is now edging towards oversold on the daily. Another update is possibly due soon, which is likely to be OK.
Although I dislike the death cross on the daily, price appears to be holding up well around the 23.6% fib levels. Therefore a return to the 50% retrace is possible. That would give about 20% upside from the current level. It also bounced nicely off the 78.6% fib on the weekly (which is also the 100ma on the weekly chart).
Position taken.
Price has taken a bit of a beating of late due to recent news. But it is now edging towards oversold on the daily. Another update is possibly due soon, which is likely to be OK.
Although I dislike the death cross on the daily, price appears to be holding up well around the 23.6% fib levels. Therefore a return to the 50% retrace is possible. That would give about 20% upside from the current level. It also bounced nicely off the 78.6% fib on the weekly (which is also the 100ma on the weekly chart).
Position taken.
Trade closed: stop reached
Didn't like todays RNS. So closed this out first thing for a small loss. Can see it dropping today.
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