AU has run a bit already. We called it come time ago when it broke out of the range, so this post serves a little like an update.
We think AU reaches $26.
If you missed the breakout, it might be difficult chasing the stock here. You cold put a 2-day low trailing stop loss on if you wanted to get in now and still have a favourable risk-reward.
As is the case with Barrick Gold, AU has not run nearly as hard as it should have given the Gold price and it has a lot of catching up to do.
So even if you are late to the party here, we think there is still good money to be made.
We think AU reaches $26.
If you missed the breakout, it might be difficult chasing the stock here. You cold put a 2-day low trailing stop loss on if you wanted to get in now and still have a favourable risk-reward.
As is the case with Barrick Gold, AU has not run nearly as hard as it should have given the Gold price and it has a lot of catching up to do.
So even if you are late to the party here, we think there is still good money to be made.
Comment:
This chart compares the stock price to the Gold price. You can see the massive gap.
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