I've traded seabridge so many times over the years because i've always known one day this baby is going to rocket . Is this the time ? Who knows , but it looks promising... and im back in yet again ... never give up on an idea that has promise is the key .
One of my all time favorites. Been holding SEA for years and it's stronger than ever now... just another good spot to accumulate more.
We've broken down after a partial rise fakeout i'm going to be buying put options for this ticker as i'm really not that bullish on commodities anymore at the moment.
The weekly seems to be showing weakness and confirming that weakness by breaking down a bearish structure known as a Right-Angled and Ascending Broadening Formation; The measured move should take us down to test the 61.8% retracement at the very least before seeing any sort of major attempt at bullish continuation.
Gold has been consolidating for a while and SA (gold miner w/ some silver/copper exposure) has held up very nicely. Of all of the gold miners this would be my focus. Close to a breakout. If gold can break the current downtrend SA should be hitting new highs quickly. Waiting for a breakout to go long.
SA has formed a bit of a large bull flag. It has maintained support at $17 and 100 EMA is also helping it, too. I am buying at $19.40 and I will stop if it goes below that trend line. Hopefully it'll break through the flag.
Overall i think the stock is undervalued right now. It should be around $19.71, and with he recent news release of initiation of drilling resources i can see this target being hit.
Could turn into a nice trend on this weeklong test of the 50ma and now break from bull flag. It is a lagger and has not really participated in the gold rally over the year. It is sitting on an absurd amount of long term price support.
Who wants to gamble here ? It's not a sure thing but it's got a lot going for it. I just loaded this baby. Seabridge.
I have recommended a few mining stocks that have been underwhelming, as most miners have been lagging gold and silver. The one miner that has clearly outperformed is SA. I have been patiently waiting for a pullback to fill the gap around 11.50. BUY! This exploration company has tremendous relative strength and has been way ahead of the gaining strength in the...
I was early on Seabridge Gold. Should have stopped out but the swing position was small...may look to add to this position on a retrace. SA dipped below ideal wave (2) support but has a solid impulsive looking move so far off the low. Need to see something like this 1-2 play out if wave (3) is indeed underway.