Alio Gold (ALO)

[TrendTrade2016]

This ticker exhibits a pitch perfect weekly breakout pattern looking to test the top average next week. The volume is there so traders are jumping in on the sentiment here. Keep in mind the play is not quite ready to be called a super long trend due to the weekly averages not quite in divergence. Once we get to the top of this trend she will pullback to let averages settle in and diverge. They call it the weekly for a reason. The monthly will follow in a month once the weekly really builds it's foundation. There is no reason however not to hold this long for the next 6 months if you are okay with the pullbacks. Gold is bullish also on the weekly front. We have not seen a bullish sign on gold since 2009 and this bullish turn backs the fear in the global sentiment. Gold is headed back to 2000.00 in the next 2 years. I know a lot of traders that did very poorly last year except for the GOLD players and they are holding long. Back on the TA note 8 day is crossing the 62 day which means the buying pressure is moving the 8 day fast. The .60 trigger takes to .82 THEN .97 on this run then the pull back reset and move to 1.29 in a month. This will give the play lots of time for the monthly bands to pinch. The weekly accumulation indicators are all pointing to a positive sentiment with TGD.

GLTA
TRENDTRADE2016