Chart 1: GDX & GDXJ
Below are the daily charts of GDX & GDXJ.
The key support levels are very close to the lows at the start of August. GDX has support at $26 and $25. It last closed at $28.28. GDXJ closed at $39.22. It has support at $36.
TheDailyGold Premium #635
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We published TDG #635, a 17-page update late Saturday evening. This update was quite long in terms of text but short on charts.
The update included a report on one of our largest positions. It was a 5-page report and we showed how the company has 3-fold and 5-fold potential in a number of scenarios. The stock will probably consolidate for a few months so there is time to accumulate. If you buy it a bit lower and metals prices rise to $1700 and $20 and the company makes a new discovery, it has 6-fold potential over the next 12 months.
The update also included another lengthy Q&A section and there we decided to add a new company to our watch list. Its another producer driven by exploration success. There is a path for the company to grow its production from 2018 to potentially 7-fold in 5 years. This is something we are looking at and if it passes the test we would accumulate during this correction.
Consider utilizing our expertise to make sure you are in the stocks that will perform.