NXG about to stage major breakout

[trendmagic]

From our website....

We have been watching this one for a while but only now think that it is very close to an important bottom. NXG has been hammering in support for 6 months now. Our chart below speaks for itself and should show you why we want to pick it up anywhere in the 2.8 to 2.9 area. Looks much higher on the larger timeframes. Today, NXG had a nice day and a close above 3.25 will force us to get long.

 

[The Baptist]

Gold Proxy?

Did not go to your website, but this just looks like a correlated proxy for the gold price only softer relative to Gold in the last 2 months.

Same Low points in mid June and begining Oct. Same TA applies for Gold, no case made in my eyes for this company over underlying from a charts perspective.

 

[trendmagic]

I cant speak to the fundamentals and I dont correlate NXG to the POG...

NXG's chart pattern, using my charting techniques, suggests that a massive upside break is about to occur within the next few weeks. My volume studies confirm this action.

Trendmagic

 

[catracho]

looks like a large descending triangle - every rally is smaller than last - seems the sellers are getting more impatient......interesting to see how it resolves..like u say a break above 3.25 could invalidate it, but watch out if it beaks 2.75 ..

 

[trendmagic]

And there she goes today, up 10%. We added our first lot at 3.07 and second today at 3.19.

If your interested in viewing our entire market update, visit our website.

I cant speak to the fundamentals and I dont correlate NXG to the POG...

NXG's chart pattern, using my charting techniques, suggests that a massive upside break is about to occur within the next few weeks. My volume studies confirm this action.

Trendmagic