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Jordan Roy-Byrne, CMT, MFTA |
TheDailyGold: Potential Near-Term Upside Targets in Gold, Silver...
Published: Thu, 05/14/20
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Gold & Silver have been consolidating, bullishly for four weeks. The stocks have been consolidating for three weeks and have held around recent highs.
The sector is not yet at an overbought extreme that could cause a sustained correction. Should miners and metals make higher highs, what are the potential targets and where could the next peaks be? I provide some answers in my editorial. For the spoken word, here is my latest with Palisade Radio. We discuss some big picture issues, key levels for juniors, when to sell and the impact of the stock market on precious metals. There is some fear that a stock market decline could take the gold stocks lower. Wednesday's action was encouraging. The stock market was down, GDX flat and Gold up. I've highlighted GDX 28 as a target in a realistic negative scenario for GDX. In any case, realize that Gold, the senior gold stocks and GDX made new highs right after they crashed. That kind of strength rarely is followed by a deep correction. A correction is certainly possible, but it would be that. A correction....within an uptrend. Moving onto TheDailyGold Premium...
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In TDG #673 we updated a company report on one of our favorite companies. It's a 10-bagger if they execute and the Gold price is at $1800-$1900. But, I think it has just as good of a shot at a 15-bagger.
Yesterday I was thinking about another company in my top 8 and analyzing some numbers. I've looked at it as a potential 3 or 4 bagger, but that is at the current price. However, in an enviroment of $2000 Gold, I could see this being a 5-bagger. And that is from todays price. Both these stocks are in my top 8. Those are companies that I'm most confident in as they have the best combo of strong fundamentals and upside potential. These are the types of companies that can still thrive at $1500 Gold and really kill it at $2000 Gold. I'm very confident that these types of companies have significant upside potential over the next few years. Subscribe for Only $149
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