StockRenter

StockRenter

Obviously, the 200DMA is still key. Until we breach the 200 day, we're stuck in purgatory. However, immanently, if we can get back to previous short term support, it would be constructive.

StockRenter

Now that the vote on legalization has been postponed till after the election, it's hard to find many catalysts to help get the sector out of the doldrums. Much of the bad news has been priced in, but perhaps not enough. It seems bankruptcies are being factored in based on its price action. Let's see...

StockRenter

Here's a short term chart for Horizons Medical MJ. It's been trying to base over the last week, with some continued follow-through, albeit timid. I expect we're winding up to the #More vote scheduled for the week of September 21st. For me, it's a coin toss. The overall trend is clearly bearish, but it's certainly putting up a fight to reverse that.

StockRenter

Here's an update to my original one year chart, as with SGN.V, there's a lot of tension brewing in junior miners and explorers. We should make a decisive move in the coming days. Today, Gold had a false breakout but is holding $1,950. Let's see what happens (with bated breath, of course!).

StockRenter

I decided to clean up the chart add a bit of context. To my eye, it looks like we have a big move ahead. Is this month's Federal Reserve meeting the catalyst for either direction? In any event, every dip in gold and miners have been bought. Let's see if the trend holds.

StockRenter

My kid's soccer practice got canceled this morning, so I thought I'd take another look at Scorpio Gold Corporation (my current favorite). The chart is showing some strong signals that are what I believe, signaling a meaningful move to the upside. My overarching thesis is Gold will hit $2400 by EOY. For extra torque, juniors will vastly outperform in a $2400 gold...

StockRenter

An attempt to break free from its long-term bearish channel is imminent. Recent support pegged at $6.15, a close below it will signal continued bearishness.

StockRenter

I think this is a very constructive chart. It looks like a clean break from a year-long channel and now consolidating into a well-defined bull flag.

StockRenter

I had published a previous chart on HMMJ, which for now has failed, overshooting to the downside. I have to believe so much bad news has been priced into the sector. There are a couple of positive catalysts that may provide the lift needed to gain favor with investors.

StockRenter

I think we hit the $1,870 range before moving up for a meaningful move.

StockRenter

I always look for rounding bottoms. Gold is consolidating here, but I think the miners will continue to catch a bid, especially the microcaps.

StockRenter Updated 

I decided to republish this chart with a tightened up arc, and added some initial price zone/targets.

StockRenter

I like the setup to at least test previous support. A break above would get my attention.