Technically speaking UXG – US Gold broke out of its w-bottom chart pattern today. 4 USD$ should be a reasonable price target. That level used to be both support and resistance in the past. Important price levels tend to attract prices. That’s why this price area should literally act as a price magnet. Predicting is always a dangerous proposition. Then again odds are clearly favouring the stock to move higher as the trend is up and the weekly MA 30 is pointing to the upside. Technical analysis says all stars are aligned for that stock right now.
I have lots of articles and videos featuring Rob McEwen. This guy is top notch. UXG is without doubt a company with great management. As I’ve stated before:
It’s people that make mines.
Betting on stocks with outstanding management is simply another way of putting odds in your favour. Type in Rob McEwen into the search box. That will generate search results with all the articles featuring Rob McEwen.
Have a great evening!
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