Hi Captain. Never looked at SAR before, Saracen right?. Just spent a few minutes on the chart.
I don't have a strong view but nevertheless a few comments. Qualified by the fact that smaller stocks don't behave as well technically as larger stocks, due to less liquidity.
Big picture monthly chart is bullish. Rough Elliot Wave is supportive, looks like Wave 1-2 complete and now in a rough Wave 3, the strongest and longest wave.
But, there is fairly strong horizontal resistance at $0.61 which it recently came up and hit and reversed. This is also the 61.8% retracement level of the last range down.
Broadly trending up, but hugely volatile with massive % price swings. This sort of stock you either buy and hold through the swings to pick up the broad move up, or short-term trade these swings.
Weekly chart has a confirmed trend line from that 24th July low. However last three weeks it broke down through it then recovered to close right on it. Don't like this sort of move, not yet convinced. Today the week opened with an almost island reversal bar, bearish for next couple of days. I'm not sure it's not having another swing down, in spite of reversing and now trying to hold the gains.
So medium to long term bullish but next few weeks quite uncertain and slightly bearish. Ignoring your Van Eck strategy, this would have to have a weekly close above that up trend line (at about $0.55 this week) with a positive looking bar closing high to consider taking a long this week, if you must. But the correct trade is to wait for a weekly close to confirm above the $0.61 resistance before going long.
Your problem is that it will probably take the Van eck changes to give it enough of a push to get above that $0.61 level. So I don't like it the trade chart-wise, but if your comfortable with your catalyst, then leave it as long as you can to implement and have a go.
Note I don't have a view on gold, haven't looked at the chart, and that will influence.
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