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RE: Stage Analysis Beginners Questions-WGO.V - briansmith456 - 2019-07-02
Hi again,
Here is another miner WGO.V that looks to be setting up for a buy if it breaks the trendline and gets above the cloud at around 1.34+.
I was wondering whether this is still not a buy because the 30 ema is not rising yet and the 30 ma is just starting to curl up. If it is not a proper buy above 1.34 roughly, then at what point would it be a buy (would we need to see 30 EMA, 30 MA and 10 MA all clearly rising?).
Also, if one is looking to buy a miner must one just focus on the chart and its proper buy signal or must one also worry about what gold is doing because then it becomes more of a guessing game if a chart says buy but gold is saying it could still pull back some (or move higher) so one becomes paralyzed even if the chart says buy yet gold direction is not clear.
Thank for your thoughts,
Brian
RE: Stage Analysis Beginners Questions-WGO.V - malaguti - 2019-07-02
(2019-07-02, 02:09 PM)briansmith456 Wrote: Hi again,
Here is another miner WGO.V that looks to be setting up for a buy if it breaks the trendline and gets above the cloud at around 1.34+.
I was wondering whether this is still not a buy because the 30 ema is not rising yet and the 30 ma is just starting to curl up. If it is not a proper buy above 1.34 roughly, then at what point would it be a buy (would we need to see 30 EMA, 30 MA and 10 MA all clearly rising?).
Also, if one is looking to buy a miner must one just focus on the chart and its proper buy signal or must one also worry about what gold is doing because then it becomes more of a guessing game if a chart says buy but  gold is saying it could still pull back some (or move higher) so one becomes paralyzed even if the  chart says buy yet gold direction is not clear.
Thank for your thoughts,
Brian
you've mentioned the 30sma and that's key for me. Its still below it, and the sma is just flattening. you may well find that price goes up and down, possibly taking you out until stage 2 asserts itself (ie when its in stage 1). its too early in my opinion.
as for the miners and gold..the question would still be whether the sector itself is doing well rather than the commodity.Â
gold is doing very well right now, however that doesn't mean the miners themselves will. you would imagine a correlation, but not necessarily as the company's outlook is not dependent on the value of the commodity itself but on its ability to take advantage, its competitiveness, its own technology.
RE: Stage Analysis Beginners Questions-WGO.V - briansmith456 - 2019-07-02
(2019-07-02, 02:35 PM)malaguti Wrote:(2019-07-02, 02:09 PM)briansmith456 Wrote: Hi again,
Here is another miner WGO.V that looks to be setting up for a buy if it breaks the trendline and gets above the cloud at around 1.34+.
I was wondering whether this is still not a buy because the 30 ema is not rising yet and the 30 ma is just starting to curl up. If it is not a proper buy above 1.34 roughly, then at what point would it be a buy (would we need to see 30 EMA, 30 MA and 10 MA all clearly rising?).
Also, if one is looking to buy a miner must one just focus on the chart and its proper buy signal or must one also worry about what gold is doing because then it becomes more of a guessing game if a chart says buy but  gold is saying it could still pull back some (or move higher) so one becomes paralyzed even if the  chart says buy yet gold direction is not clear.
Thank for your thoughts,
Brian
you've mentioned the 30sma and that's key for me. Its still below it, and the sma is just flattening. you may well find that price goes up and down, possibly taking you out until stage 2 asserts itself (ie when its in stage 1). its too early in my opinion.
as for the miners and gold..the question would still be whether the sector itself is doing well rather than the commodity.Â
gold is doing very well right now, however that doesn't mean the miners themselves will. you would imagine a correlation, but not necessarily as the company's outlook is not dependent on the value of the commodity itself but on its ability to take advantage, its competitiveness, its own technology.
Thanks Malguti, you make good points. I was concerned about the 30 exponential ma and SMA's not rising yet to give a more proper entry signal. Like you say they are flattish so the stock can bob up and down for now until something becomes more clear with the moving averages.
Brian
RE: Stage Analysis Beginners Questions-PVG.TO - briansmith456 - 2019-07-02
PVG.TO looks really interesting because so far it appears to be doing the exact same thing it did in 2016 after forming virtually the same type of base before breaking out. I circled where it broke out in 2016 and retraced back to the 10 MA and the trendline and now in 2019 it has also broken out of a similar base and it will be interesting to see if it pulls back to the 10 MA which is roughly the trendline break. That would look to be a good entry if we can get back to around 11.84.
Thought appreciated,
Brian
RE: Stage Analysis Beginners Questions - malaguti - 2019-07-02
Indeed, however the red flag for me is the amount of resistance right above it. It took 3 attempts in the past, and price is in the thick of it
No doubt its stage 2 and past previous resistance. I'd want it to clear all time highs. Just me, but I've seen better setups
RE: Stage Analysis Beginners Questions - moneymaker - 2019-07-03
Hello all,
Is this a head and shoulders inverse?
Thank you.
RE: Stage Analysis Beginners Questions - JimStudent - 2019-07-03
Just to add a comment about the Gold Mining Sector. There are 103 companies (or close to that) in the Gold Mining Sector. 20 of those companies have made at least a 10% move in the last 10 days (that's one percent a day average). The Gold mining sector becomes more profitable when the price of gold increases. Costs remain the same and the product the gold mine is selling can be sold at a greater price. That means profits go up and the gold mine becomes more valuable. Â
I couldn't find the pages in the book but I believe Stan Weinstein wrote about new highs having potential and the traders' way of buying a strong stage 2 at pullbacks. Maybe someone could correct those statements if I am getting my books mixed up.
RE: Stage Analysis Beginners Questions - briansmith456 - 2019-07-03
(2019-07-02, 08:15 PM)malaguti Wrote: Indeed, however the red flag for me is the amount of resistance right above it. It took 3 attempts in the past, and price is in the thick of it
No doubt its stage 2 and past previous resistance. I'd want it to clear all time highs. Just me, but I've seen better setups
Good point about overhead resistance. If it does pull back to around 11.84 there may only be a couple dollars upside.
Malaguti, , do you have any TSX miners you are aware of that you think could still be good entries (not too extended)?
Thanks,
Brian