BTO trade ideas
BTO: Oversold short term. Speculative $6.50 to $7.50 in 8 daysBased on past oversold on the 1 hour chart, we can expect a correction to favour the bulls until the past resistance/support at the mid 7.50s CAD. That's generally a 11-13% gain in 7 to 8 days.
All these gold miners are going to get a lot of attention in 2021 with gold about to likely take another bull run. After all, all asset classes are going up so gold, although it has lost its luster to firecracker crypto, is a unloved short term asset until it rotates to shine again.
Speculative, short term long. On the medium and long term, bulls have to prove themselves. The bears have ruled in 2021.
In a strong demand zone if the lows in gold hold, should move upThe sell-off in gold was expected but did not expect 1850 to fail, nor see BTG down to 5.11 intraday the other day, but... we are where we are. BTG has entered into a strong demand zone and should start to move up in anticipation of gold rising into the end of the year. The bulls seem to be struggling here trying to stay above $1800 and a drop below 1795 would invalidate any move up obviously. Let's see if 1805 stands, if it fails it could signal more trouble ahead. I do believe we could see a sharp snapback rally putting BTG back above $6 in a relatively expeditious manner if gold starts moving in our favor back up above 1835. Good luck,
GOLD stocks in tandem and forming *possible* trading channelAppears that numerous gold stocks will have a very similar looking charts are now testing previous levels of support from June.
I am not expecting gold to move any time soon or do something super exciting; although, I hope they stay inside the channel and trade sideways.
Execution is to buy position or call options at bottom of channel and sell on a profit, and repeat, until they break above or below.
This is quiet speculative!!!!!! watch it closely.
looks like we are heading up towards the top of this channel1850 gold seems to be the magic number we have to keep our eye on here. A break below puts 1795 on the table and does long term damage to the chart. Provided we get back to and stay above the key level of 1900, we should be back on track here. Normally a cup and handle chart pattern takes a long period of consolidation of up to a year to build out the handle, but with 3.2 Trillion on the table, I don't see that happening. We are heading smack into gold season after this period of consolidation and it looks like we are headed back to $6.30 here and then higher.
Great entry $6.45 - 6.55 IMO if 1890 Gold HoldsFrom a seasonal perspective, Gold is entering its season. There's a stimulus package waiting in the wings right after elections, an enormous amount of stimulus in the market right already. Given that the dollar is locked in a downtrend, there should, or could be a substantial rally into years end as short-sellers look to cover. The overall trend in this market is higher, don't fight the fed, the trend is your friend, and the only potential short term negative here is that the market is squeezing retail traders until the stimulus package gets placed squarely on the burner so its in the crosshairs of the senate for passage. Either candidate will be good for the market, however, many analysts believe a Trump victory will fuel a major rally in stocks over the next four years pushing the indices loser to 35-40,000! The only hitch in the gitup would be a hung jury on election day which probably results in a mass liquidation event similar to the March crash! Good luck, just my two cents here!
Back inThough I may be somewhat premature, there's no denying that the FED and economic policy is to continue to be accommodative, I am back in at $6.45. All that happened here is that the market dislikes uncertainty and that is exactly what it got when Trump called off stimulus negotiations to focus on supreme court nominee. With that out of the way, we might see more consolidation down to 1877, but everything is now on the table and gold looks good right here for me to long. I'm thinking the bottom may be in but I guess we shalll see soon enough. Just my observation, trade your own plan
Expected gold to catch a bid on the POTUS news? Weak close IMONo real traction this week off the low of 1851? Very little momentum, no real follow-through so gold in my opinion looks to consolidate more and possibly pivot lower next week retesting 1851. I halfheartedly think we may have put in a double bottom but with this week's weak close in gold, that's questionable. BTG bounced off $6.02 on the 19th of August and $6 on the 24th of Sept. I did Expect to see gold get some traction on news that POTUS contracted COVID, instead... gold couldn’t catch a bid and closed the week quite weak IMO. Might retrace and retest that 1851 level and a close below $6.26 might set that up. If so, I’m thinking we could get closer to test that $5.90 mark at the fib .618 level if my lines are drawn properly? I’ll be patient here and a buyer closer to, or just below $6 in that fib area unless or until there is a decisive move over 1925 and a change in momentum higher. Good luck, just my opinion here, would love to see others, have a great weekend!
Good Upside Potential hereThe good news is that after this latest correction in gold no technical damage has been incurred. Gold is still well above its 200 DMA. In my opinion, the earlier overbought condition has now been completely unwound. Is this consolidation period over? I don't think so because seasonally October is traditionally the second weakest month of the year for gold. In looking at the ten-year chart for gold you can see a HUGE cup and handle formation, and in the process of forming the handle. I expect to see more consolidation in forming the handle and more sideways movement. The Silver chart looks good here too with plenty of upside potential. What about the dollar? This current rally in the dollar looks more like a short-covering relief rally to me than anything. Could it continue higher? Sure, depending on what the fed does and how this election winds up, but the overall trend here is lower and regardless of who wins in my opinion, more of the same is to come. The fed is highly accommodative and so too will a Democrat administration, the printing will continue and rates will remain low for some time. In my opinion, though yours may be different, the overall trend in gold is higher and I'm looking to pick up shares anytime we get close to $6. Good luck!
BTG SHORT All stocks eventually retrace. For more reasons than one I think the Gold run is over. I think stocks will continue to be bullish as we progress through this covid era. Technology is booming and holding support even on sell offs. I believe BTG is forming a descending triangle and will retrace to the 33% level which is found a lot on retracements. However, BTG is a young company and I would be a buyer more than likely at $5 gold has and always has had value.
*NOT INVESTEMENT ADVISE*
Gold appears to have found support and channel. Appears that gold stocks and ETF's are mostly all moving in tandem, which is good. Appears that gold has found a support level and is moving sideways at the moment. This is a good time for accumulation.
I will *try* to time the market and buy it at the bottom of the channel and try to flip profits on the upside. Either way, once purchased it is a long term hold.
The RSI is back in neural zone and the MACD appears to become neutral and ready to roll back over to the upside.
Time to start adding?I'm thinking this retracement is getting close enough for me to start adding back to my position here around $6.28. Seems to have come hard and fast. This could possibly retrace all the way down to 5.80, however, I've never been good at picking absolute tops and bottoms...good enough for me. Technically after redrawing my fib line, I wouldn't want to really see this drop below .618 level at $5.95
B2GOLD CORP upside potentialB2Gold Corp. is an exploration company. The firm engages in the acquisition and development of mineral properties.
B2GOLD REPORTS QUARTERLY GOLD PRODUCTION OF 241,593 OZ AND RECORD QUARTERLY REVENUE OF $442 M FOR Q2 2020; ON TRACK TO MEET ANNUAL PRODUCTION GUIDANCE OF 1,000,000 TO 1,055,000 OZ
On 7/20/2020 Scotiabank Boosted Price Target to Outperform from $8.50 to $9.00
It`s in the overbought RSI area, we can expect a small bounce before another leg up.
B2Gold pays an annual dividend of $0.08 per share, with a dividend yield of 1.16%.
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Buy B2GOLD CORP at the market enteringHey investors, B2GOLD CORP is in a downtrend, large purchase volume it is on a bullish trend support. Great potential to break the trend support for a reversal, it is located in a consolidation zone.
A recomblage of the gap while passing join the zone of the top to arrive at the half of the zone, if the buyers are with go, they can bring the price to return to the same level of the last session.
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