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NGD - a gold mining penny stock is bullish LONG
New Gold Inc.
Long
NGD - a gold mining penny stock is bullish LONG
By AwesomeAvani
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Updated
Apr 2
1
Cheer
Cheer
Apr 1
NGD on the highly reliable monthly chart has signs of bullish momentum including a cross over
the POC line of the volume profile,a monthly volume bar over the running mean for the first
time in two years price crossing over the mean anchored VWAP and both the trend and
the momentum indicators making reversals. I will open a long trade of both shares as well
as a lot of call options for mid- November striking OTM at $ 1.50. This junior miner
stands to gain earnings when gold prices rise proportionately more than established global
mining operations. My target is 3.5 just under two standard deviations above VWAP. I will
take off 1/3 of the position at 2.7 at the first standard deviation above VWAP in best practices
for risk management.
Apr 1
Comment
Zoom- in with entry arrows
Apr 2
Comment
Price moving up slowly. Partial Profits taken at highs and adds at low pivots
( Zig Zag)
AEM
anchoredvwap
AU
Earnings
FSM
goldbug
goldlong
Moving Averages
NGD
Volume
XAUUSD
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