Flag forming in Gold. $2,200 possible within the yearGold has been consolidating and retracting in volume. It looks coiled to break-out past previous resistance. The 50,100, and 200-day moving averages are on the verge of intersecting and hopefully reversing course in a more bullish direction.
Signal to buy should be when shorter-term MA's breakthrough 200-day.
RSI, MACD, and Gold spot prices have been declining in unison. RSI signals it is not overbought and MACD is signaling buy which gives this trade some legs and breathing room.
On the fundamental side, gold is the most resistant to rust and corrosion, making it the most reliable and durable electrical conductor. It is key for computer and satellite technology. If Starlink is going to become a reality, regardless of whether or not it does so under the umbrella of Tesla or by IPO'ing, they will need a lot of gold to make those satellites low maintenance.
Gold is also essential in the production of green technology and it is essential for healthcare and our digital world.
I expect spot prices of $2,200 within the year and at least $2,500 by 2022.
Starlink
Tesla is going down...I was in an ironical non-technical, tipsy mood, so:
As much as I wanted to jump on the train, though I bought the exact dip of that time 177 usd but sold at 450.. they played it very well to cut Tesla's share in quarters to get Joe Average in the rollercoaster, and produce even more weight if they pull the strings at the top and short the hell out of it..
Even if this still goes up, which it could.. maybe till 1T dollar market cap, same as bitcoin has in mind.. which is now 550B usd vs Tesla with 680B usd.. astronomical numbers, but yeah, all markets have to be pumped before the world goes to sh*t, isn't it?
Or did you think Tesla's Starlink program was just ment to get us to the moon and Mars? Partially.. yes, but you ain't seen the dark side of the moon yet.. (btw, the Chinese are there already.. with a drone.. or maybe they're having their extended Wuhan party in preparation for Mars.. because certainly they do have .. the technology and.. the money !)
And didn't Elon visit a little too much China and potential investors.. as well as the CCP government themselves?
You think it was quiet during covid times? Well.. there hasn't been spent as much money on military and space exploration as in 2020 ! The US had to get Starlink in line after 2 dozens of Falcon X launches to get 5G ready against the Chinese version, because hell yeah, if we gotta be ready to start the virtual combats.. we better print a few trillion usd more as we have to provide our 'people' already.. and 200 million usd drones (for 1!) of Northrop Grumman, laser guided missiles and rocket equipped satellites, and a whole fleet of F35's bought by all allies, 2 new aircraft carriers.. so I hope Europe won't be a battlefield so I can watch the spectacle begin.. btw.. Starlink didn't forget a few microseconds connection improvement for the NYSE so more advantage for Wallstreet and automatic trading can be implemented.. I'm very curious what Russia has in petto.. right.. they were re-inventing the largest aquaplane right? And I don't wanna know what China's fabricating.. underground !
So Elon.. you have set the world on fire.. literally.. and if you by chance have bored your tunnel significantly.. have a peak with our Asian neighbors.. and ask them: whazzup...? and when things go bad.. yeah.. a ticket to.. Mars will do ?
Maxar too the moon?WIth the love of space looking at other stocks besides SPCE, I found MAXR. They do work with NASA equipment and Satilites, pretty cool company while we all wait for the starklink ipo. With the new budget in USA, the Gov is suppose to increase 12% to NASA funding, which would increase roughly 2.7billion dollars with a budget of rougly 25billion dollars and sure there might be other outside investors.
MAXAR with a MC of 1.04billion, according to Robinhood would increase its MC to rougly 1.1648billion with a .1248billion increase witha given price of $19.32 roughly. Getting pretty close to last months high and wondering if its priced in.
I'll remain neutral with MAXAR while being a bull just cause it's space and SPCE has caught the attention of many investors in the space sector with also MAXAR being the second largest holding of UFO, which is a Space etf. I expect as SPCE pulls back MAXAR can have a steady uptrend with its EPS also slowly going up .
Next week will be a big week in MAXAR trading with the MACD looking its about to cross bearish, yet could always bounce back with large sell value happening friday, yet barely moved the price as it is testing resitance/support. Trading zones are 15.90-17.54 with 14.33 being a bottom. I see the growing of the space sector in the coming years, yet it might not be a bad idea to acculate MAXAR than selling when StarLink ipo to cash in on some SPCE like gains.