FNV trade ideas
FNV is a trend traders dream --- GOLD---Love this stock. It trades a 10$ spread regularly. It trades on both gold and oil, but mostly gold. Pays a dividend. More higher lows, we will see if there is higher highs. The volume is consistent. Love the stock. I start selling above 105 and start buying below 95.
Franco Nevada: Earnings Surprise Volume SpikeI'd already been holding KL, but FNV caught my eye after positing a solid 32% earnings surprise and a volume spike to accompany it. I like they because they're diversified across more commodities than just gold and precious metals, and they're doing well in a sector that's seeing a lot of established players losing money. Technicals are looking good with the MACD histogram positive and climbing for the past few days. RSI just broke 50 leaving oversold territory with plenty of room to go. ADX is 22 showing a possibility this reversal could quickly form a trend, and DI+ broke above both ADX and DI- showing that the prior downtrend is in the rear view mirror.
You may want more confirmation, but I'm already long and plan to hang on for as long as I can remain in the trade. I suspect defensive plays like this will be the trade du jour for the entire month of May with only the last week or first week of June being the first reprieve from the trade war showdown playing out.
FNV Retest(Gift from the trading gods?)$FNV pulled one on most of us today with the rip down on the news that sank the stock right back to retest low end of range with lower volume and potentially a higher low. Again this was a gift from the gods. Keep an eye out for it to run at some pt. Won't lag too much
FNV 1st week of 2018Playing Trading Simulator Game:
I was checking out this stock on New Years Day.
Stochastic Oscillator (14,3,1) looked positive.
5SMA - 20SMA looked positive.
Short term trend is positive.
Long term trend is positive.
On 2JAN18 bought 500 shares at $79.98.
Price started dropping, bought more to dilute my average buy price.
2JAN18 bought 500 shares at $79.11.
Price dropped on next day, bought more to dilute my average buy price.
3JAN18 bought 1000 shares at $78.10.
I now own 2000 shares with an average price of $78.82.
Stochastic Oscillator has just crossed into a buy signal.
I am holding.
FNV: Long - one of the few gold winnersLike many, I don't believe good times last forever. I like having a portion of my portfolio in gold/mining indexes as a safety net but I've been very disappointed by returns. FNV tremendously outperforms both GLD and GDX - I can't really imagine how well this company will perform when GLD/GDX start seriously uptrending. The 1.08% dividend while I wait is just icing on the cake. I am long FNV and will continue adding dips until well into the next recession...whenever that may be.
FNV - DailyI haven't looked at Franco Nevada in a long while, maybe since March. White count was generated back then. The target box for 3 of (1) is unchanged; price met that objective. In this pattern wave 4 should have held above 61.47 top of 1 (see red line), but since it didn't I'll need to revise my count.
Blue Alt:
Might be looking at another (1)-(2), 1-2 here (blue count added today). Price held within the usual 38.2-61.8% retrace (log-scale).
Red Alt:
Also possible this move up was an A-B-C instead of 1-2-3 as shown (red count added today). In this bearish alternative, could see a corrective bounce before a powerful move down. Clearing the red box impulsively would add confidence this isn't the case.
FNV - 4hrFranco Nevada reached the target box for wave (iii) of 3. Still looks like it needs OMH to complete the micro pattern. I'd like to see MACD make a new high as well, then negative divergence form on MACD into the wave 3 price high. My stop is indicated at 67.83. See other miner ideas for more discussion.