We are buying GDXJ at the market. Also can buy ABX at the market
We like the chart action for GDXJ, which is the Precious Metals Junior Gold Miners. You can see the recent positive divergences with the OP hitting new lows, while price held higher lows. Also the oversold Technometer at the recent tests.
We want to buy at Wednesday’s opening and enter a sell stop at $26.82
ABX has an even more bullish chart pattern, as on the tests of the springs for GDXJ, ABX was actually backing up to its creek it jumped. Its OP also hit new lows while price was at its BACKUP, which is a positive divergence.
Go long ABX at Wednesday’s opening, and use a sell stop at $10.84
The point and figure chart could show an upside objective as high as $15.
Good Trading,
Todd Butterfield
Responses