long position on CGMy strategy is based on price action with the reading of certain indicators that I like while respecting all the values that define the stock maket
GOU trade ideas
long position on CGMy strategy is based on price action with the reading of certain indicators that I like while respecting all the values that define the stock maket
Kumtor sheninigans will continue Kumtor sheninigans will continue and one can make expropriation arguments but ultimately the government is part of UNCTAD and is subject to litigation at The Hague in Netherlands if it defies international law they signed on to via numerous bilateral agreements. They own 27% of Centerra it is in their best interest to cooperate and get the share price higher for the country then any residual benefit they may gain from expropriation + paying for (at fair market value) portions of a mine. Similar/worse claims have been made in 2007/8,13,17 all resulting in 50-200%+ rallies in share price once resolved.
2-3 year target for this would be $24-25/share canadian TSX:CG NYSE:CGAU
ABCDE correction on wave 2If my Elliot wave count is correct, then we may be in an abcde triangle pattern.
As we can see on the weekly chart we can see a strong reaction to the golden pocket on December 2. In my opinion, the 2nd wave is in an abcde triangle that is in the processes of forming the E wave and once that occurs we will find about to end soon and then we may be headed towards a 3rd impulse wave.
I'll try to search for E on the daily chart or 4 hour chart by looking for looking for a bullish divergence on the MACD,RSI and William %R as well as some nice volume. If it forms on the golden pocket that will be a nice bonus and it would be strangely appropriate for this stock.
