JNH Resumes Uptrend? Trade Setup (>100% Potential Profits)Hello Fellow Traders,
Here we are looking at Jack Nathan Medical Corp (JNH) on the TSXV. As we can see, this is a relatively new chart which rallied throughout October, reaching a high of $2.72.
The price has since corrected and formed a bullish falling wedge pattern. Additionally, following a breakout from the wedge, it has printed a double bottom in the $1.10-$1.15 range. Prices are now trading above the 10, 21, 50 EMAs on the 4H chart. We can see increasing volume, the RSI has risen above 50, and the MACD is increasing as well, all bullish signals.
Depending on how quickly this chart picks up, we could see massive growth, so I have marked some potential paths for the next bullish wave. Prices can easily move up from here. In the long term, a breakout past the high of $2.72 would allow for additional growth, with a target at the 1.618 Fib level of $3.70 (+184%). A potential trade setup now may be:
Entry: $1.20-$1.40
Targets: $2.10 (+61%) | $2.70 (+107%) | $3.70 (+183%)
Stop loss: $1.05 (-20%)
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Price at writing: $1.30
Toronto
GOLDMINING INC (GOLD) Ready for Next Rally? (+34% Potential)Hello fellow traders,
Today we are looking at the daily timeframe for GOLDMINING INC (GOLD) on the TSX. As we can see, GOLD peaked around $3.85. It has since corrected, printing a double bottom at previous resistance, in between the 50/100 EMAs (yellow/pink).
Prices have broken and are now trading above all EMAs. The RSI has increasing fast, and the MACD has just given off a bullish cross. Additionally, we have increased volume coming in with prices moving up. All of these signals are bullish. The key levels to watch here around $3.40 and $3.60, past which, prices can easily jump. On the chart, I have marked the three likely paths using arrows that prices should approximately follow. Depending on the level of resistance ahead, primarily at the $3.60 level, prices may either jump or correct back down and continue trading in this wedge.
A potential entry zone now would be $3.10-$3.35, with a second entry around $2.75-$3.00 if prices break down to the next support level. An immediate target would be at them most recent highs, around $3.80 (+14%). A breakout past the most recent high could launch prices up to the 1.618 Fibonacci level, at around $4.50 (+34%) in the short-to-mid term. A stop loss could be placed in the $2.50-$2.60 range to be safe, however I am not using one as of yet because my entry was at $2.94. Keep your eyes on this one!
Let me know your own thoughts and comments down below. Remember to leave a like if you enjoyed, and check out my profile for more stock and cryptocurrency trading ideas. Thanks for reading!
Price at writing: $3.24
Toronto Star (Torstar Corp.) StockThis chart shows the final quarter of 2014, through 2015 and into quarter one of 2016.
Runups & Sell-offs Coinciding w/ ConferencesCoincide, as an coincidence, is the keyword. The run-up prior to San Francisco's Coinsummit probably wasn't just coincidence and we know the recent run-up is (mostly) due to enthusiasm over China's prohibitive policies not completely blocking out bitcoin. I don't expect a lot but I do expect a moderate amount of selling at the end of the expo on Sunday evening.
This is the first chart where I am actually brave enough to make a prediction. Any thoughts and criticisms are very welcome.