TheDailyGold: Gold Stocks Showing Positive Divergences....

Published: Wed, 05/15/24

Updated: Wed, 05/15/24

Wednesday, May 15, 2024

Good Morning!

Gold is in a correction and it could continue. But the gold stocks are showing positive divergences...

In the chart below, note how GDX has made a higher high while Gold has made a lower high.

Also, the GDX advance/decline line, a leading indicator, has shown more strength than GDX.

This does not necessarily signal the sector is about to blast off. The correction could continue be it in price and/or time. But these positive divergences are a very good sign and usually precede another move higher.

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There is still very good value to be found in quality companies.

I define value as something that could double or triple in the next few years at current metals prices.

Many stocks in our Top 10 have moved, so I have turned my focus a bit to potential future Top 10 companies and those outside the Top 10 which, may have a flaw but have more value and potential than Top 10 companies. (This also helps new subscribers).

I mentioned one such company in TDG #881. That stock moved up quite a bit last week.

In TDG #882 I mentioned another company.

This company has a few things to take care of but they could potentially generate cash flow equivalent to their market cap within two years.

The stock has underperformed for a while but is emerging from a bullish double bottom pattern.

In TDG #882 we also updated our Top 10 Companies and notes on our Top 10 Companies.

Here is what The Top 10 looks like blurred text and other markings. But you can get a sense of it.

This is like Cliffs Notes for all our favorite companies. And all on a single page.

You want to be invested in the right companies for this bull market.

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Thanks for reading. I wish you all great health and prosperity in 2024 and beyond.

Jordan Roy-Byrne, CMT, MFTA

Publisher, TheDailyGold

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