Ascot Resources – AOT.V has found its way into my portfolio. The stock is part of an emerging gold camp north of Stewart in British Columbia, Canada. DEC.V – Decade Resources lit the fuse with their recent results and the stock has been on fire. AOT.V popped up in my above average volume scans and the grades they have are simply awesome.
This is their latest news release: Ascot Drills 11 Meters Of 50 Grams Per Tonne Gold.
So far I like what I see. Excellent potential. Technically speaking the stock is setting up for a move higher. As I’ve stated in my chart annotations seen through a technical trader’s eyes this is not the end of the move but most likely the start of something big. How big? I have no idea and I don’t care. I am simply trading the odds. When I see such a meaningful base and a breakout on huge volume I know that trading these kind of situations and repeating the process over and over again gives me enough of an edge to come out ahead in the long run. A price target in the 1.50 – 2.00$ range over the next 2-3 months looks reasonable. Let’s see what happens and if this gold mining stock can develop into a big winner.
Here’s my annotated AOT.V – Ascot Resources chart I added to my public list:
Always up-to-date AOT.V – Ascot Resources Chart on my public list.
Tomorrow I plan to continue with the sector analysis I started this week.
Always keep a close eye on volume. When big money wants in it cannot hide. The tape tells the true story.
Have a great evening!
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