Wednesday, December 20, 2017 3:55:29 AM
Following are two charts from my buddy, first comparing the daily AMEX/TSX regarding D 20ma and D 8ema.
Secondly showing how low shorts actually brought this stock below value of $1.90 USD and now even in comparison to Gold spot. Tangible Book value of this stock is still at $2.14/sh.
Assuming $1.90/sh USD value (100% Fibo from $0.45/sh) and marked $1264/oz Gold spot @ $1/sh USD reference (38% Fibo) shows lots of tailwinds.
Indeed, the $1/sh USD recovery should take place soon.
Gold spot itself bounces from $1237/oz, contract expiration took place on 12/17 and shows a healthy recovery.
Yesterday's pullback due to the Tax Deal confusion is also overdone, having a clear positive gold market signal.
Fibo range $0.45 - $1.90, with Gold Spot $1264/oz aligned to $1/sh
AMEX and TSX Daily
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