Fundamentals: Overall the quarter result was slightly better then expected. The high gold price will also lead to higher incomes in the coming quarters. Technical: In the short term it is possible that the support zone at 1,59 CAD will be tested, before going to the resistance lvl at 2,58 CAD.
Friday's candle gapped up and tested 2 fibonacci levels to close in a bullish pin bar above the .61 fibonacci level just bellow the descending trend line. With the MACD crossing and the RSI rising this is looking very bullish IMO. I'd like to see a break out of the wedge at the $1.36 level to go long for a swing trade. $1.41, $1.66 target short term
AMEX:GAU broke out of the falling wedge and reclaimed the 200 daily MA. The stock will target 1.64$ and the sell zone between 2.03 and 2.12$, closest stop is at 1.1$ and ideally at 1.0$. Hit the like button and follow if you find this useful :) This is only my own view and not financial advice, do your own analysis before buying or selling Happy Trading!
Based on my fundamental analysis I have set a price target of $2.00 for GAU.
Galiano Gold Inc. provides mining services. It principally explores and develops gold fields. The company currently operates and manages the Asanko Gold Mine, located in Ghana , West Africa which is jointly owned with Gold Fields Ltd. Galiano Gold Inc., formerly known as Asanko Gold Inc., is based in VANCOUVER. LETS TAKE A DEEP LOOK They have actually just...
Buy the pullback around 1.25 to target new highs for next year
With the fed printing money from thin air, gold will continue to rise
Notice the BLUE line is trending upward toward the sky, I feel like this stock can triple in price very soon.