I traded Newcrest NCM long earlier this year, then it started rolling over with the gold price when I thought it had more upside in it. Haven’t had any interest in gold since.
Gold chart has a strong monthly downtrend as shown. 50% of All Time High at 960 looks a strong level below it, but no need to guess this, just let it play out and wait to break the down TL.
Now that you mention it though, both gold chart and NCM are both in a downtrend, so might be worth Shorting NCM. I don’t really like trading gold stocks as the drivers are a bit unpredictable. In an era of potential Fed interest rate rises, we could get shocks and have people running to gold or away from gold.
Therefore, maybe a short. No interest in being long gold/gold stocks though.
CZZ Capilano Honey
Never looked at it before. The chart goes straight up. It’s self-evidently at a peak or close to it.
What are you really asking? Stocks accelerate exponentially just before they fall over. Are you thinking you should buy, wondering whether to sell?. You can’t pick the top so don’t try.
Trend lines shown. An exponential curve like this normally has maximum 4 trend lines, before price breaks down through them. Rarely 5 but it happens, but that would be it.
I read something in the Herald during the week on CZZ. There was some headlines on the business channel tonight. Remember what happened to your ANN when you were excited about some news! Small to mid cap stocks you normally don’t hear about getting attention in the media is often a sign of a top. Stocks quietly building without media attention have the more sustainable trends.
I’d just take a profit if I was in it. What do you think?
BAL Bellamy’s
See Capilano comments
Same chart pattern. Just steeper.
Heard it for the first time on media during the week.
What are you trying to do with these two stocks?. It’s too late to get on board if you’re not. You’ve already made your money if you’re in there.
Do you think these stocks will go up exponentially forever?
If it pulls back, then stand back!!
I’m interested in what you are thinking about with these stocks?
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