Some notes which can be used as arguments to the bullish outlook:
My expectation are that by the end of this year if not by middle of next year that the 80$ price target will be reached. There is a small stop at 65$ but I am highly doubtful we will stay a lot of time there.
- The stock is above the 200D and even the 200W EMA.
- Large inverted head and shoulders structure which presents an opportunity leading up to 80$ which also turns out to be the resistance level tested in 1987 and 2022.
- Locally looks like someone has been accumulating.
- Gold's bullish price into price discovery, geo-political uncertainty only re-affirms the thesis.
My expectation are that by the end of this year if not by middle of next year that the 80$ price target will be reached. There is a small stop at 65$ but I am highly doubtful we will stay a lot of time there.
Trade active
Now that we have managed to close above 60 and retain the levels we can anticipate the next big leg up. My expectations are that we hit 70$, possibly reject on the first try, consolidate in the range between 60-70$ then we try higher for 80$.
You can also see the institutional targets being raised all the time but a value investor would not enter here. Value entries were much much lower around the 42-50$ range.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.