Seabridge bottomed earlier than many miners. So far it topped at the 100% extension (log-scale). That has me concerned as it would normally count as the (3) of P3. I've annotated it as an extended (1) of P3 instead since the retrace is too deep for a 4th wave, imo. That'll extend targets for (3) and P3 beyond normal expectations, but that's not entirely...
Looks like the former alt 1-2 played out. Not clear yet that this correction is complete, but a good add for long-term holds IF you're bullish miners. I've been adding miners like Seabridge all morning.
Similar KGC and GG, Seabridge Gold also has a dubious start to this impulsive rally. My stop is just below price, in red, at the (ii) of v of 1 level. Will look for support in the yellow alt ii IF stopped out.
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SA looks to be oversold (blue circles) and consolidating. RSI and %R are very oversold. Typically a run up is expected (but not always) into the red circle sell points. Stochastics strategy is indicating a Long Entry (LE). The pattern forming could look like a bear flag, but is very similar to a turn pattern from 11-5-2014 ( see gold bars). TSI looks to be...
- Double bottom completed over 6.65-6.76 area. - Nothing in my indicators at moment to suggest a false breakout - Should trade nicely along AB rising channel - Bullish crossover in 50/200 day EMAs should continue to support bullish momentum - Pullback to point C (9.96-10.36 area) may represent a nice buying zone Looking for target at prior lower high at 15.00...
Long Trade Setup. Making higher highs with resistance breakout