Bullish - re-accumulation beginningGold in structural bull market, solg have huge Cu, Au & Ag deposits in Ecuador. DYOR.
SOLG trade ideas
Gold all the way - perfect swing tradegood long position, with a cracking 4.6R profit ratio.
If Gold gets to 1800 before a deep pull back, should give enough time for Condor Gold small cap to break the current trend channel.
I think SOLG is going to bounce hard. This stock has been in this current market state of its "wide range", since October 2016. Looking at multiple technicals I predict a strong move to the upside. Why? There is a huge inverse head & shoulders pattern also formed. Price recently tested the historical support level of 19.85, on October 9th this year it rejected a low of 16.30 and strongly rejected it, now back at the support of 19.85. The current daily chart shows not only is it testing the downward outer channel it is also in a rapidly decreasing triangle and approaching a point of making a choice. A combination of solid bullish candles, the support of 19.85 and the possible channel break all lead me to think that the next stop for this stock could be in the higher to mid-30s before it begins to test the previous highs of the range. Also, the 21 EMA has very recently begun to get under the price action. I am watching this stock very closely and the recent company news of its gold. copper and silver find in the Andean copper belt in Ecuador, all point to rising on the upside. I think once it breaks and closes at 21.00 then the move will begin.
Potential move down to shake weak holders and move upThere is a potential move down to shake weak holders and move up where it is originally moving.
