I've certainly been wrong on AMEX:AUMN in the past, BUT I have always had proper stops in place to protect from the possibility of waterfall losses. I personally believe it's time to try again.
Gold & Silver appear to be breaking out and the setup is (once again) in play for AUMN. Below the teal support box is when to exit the trade . That's when you know...
After an embarrassing 1-25 reverse stock split and a free fall clearer than Tom Petty, is AUMN going to recover?
After getting stopped out of my previous idea, is this new arc valid? I don't know. But what I do know is that a risk/reward ratio of 103 is too good to pass up.
Not financial advice.
IMO, Golden Minerals, AUMN , has arguably one of the best and most bullish setups I have ever come across. It will be fun watching this one play out. Amazing risk/reward play with easy invalidation levels as well to protect yourself in this trade.
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The company's stock is in the consolidation stage strongly
The stock is now buy
I do not recommend Stop Loss because you will be taken out by the market makers
I cannot say more details about my strategy as it is very confidential
Piggybacking off @Badcharts amazing analysis...
Looks like precious metals might be on the move with the new passing of the stimulus. This could potentially be a nice long play...
Entry: $0.71
1st Target: $1
2nd Target: $2
Beginning of Wave 5 and final wave for you to catch some profit.
Will see sluggish resistance area. If ever breakout, exit at TP1 and TP2.
Or if you are willing to hold, Fib is looking to soar to $1.29-$1.64.
Lots of room for growth in the CCI and the RSI. It broke the bearish trend and is making a strong crossing push over the EMA 30. We are taking this one LONG
I prefer to look at and use logarithmic charts because they're less dramatic but included the regular one for comparison.
DYDD.
The targets I put on the chart are conservative. Conceivably a $3 to $5+ stock. In the medium and long-run I think it makes new all-time highs.
Technical Analysis doesn't have to be fancy.
Scary action on daily chart for past few days... but when you zoom out on monthly chart, simple correction since stretched from moving average. Fueling up for next drive to +1.30$, now 0.72$.
