Tuesday, June 4, 2013

ANV gold stock follow up

I posted ANV as a trade idea a while back, last week it finally broke the downtrend line on the price and on the ANV/GLD ratio, which was a bullish event.  I especially find the ratio trendline breaks powerful for gold stocks. 

The first potential target for ANV would be the 50 day MA in red, however because there was no base, I would then expect another pullback again  - if the pullback is on lighter volume and forms a higher low, then one could try a swing trade with an initial stop at the higher low

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