top of page

Chart Update - June 25th, 2019

The week has started with the expected volatility in both the broad markets and the precious metals space. Broad markets were down a little on Monday and then down quite a bit more today (Tues). Metals were up quite a bit on Monday and then got slammed on Tuesday when gold took a hit intra-day. They recovered somewhat into close. That being said, a few of the watch-list stocks made decent moves. Yesterday I sent out an email highlighting FLY, GTT, and PTG, while USA also had a big move. Let's take a look.

FLY made a big move yesterday and then gave it back to close the day. This is a good example of the volatility that we are seeing intra-day. It had some follow through today and still looks good.

PTG followed Friday's breakout with some big follow through on Monday and then gave a little back today, which is pretty normal after two big days. I really like the way this stock looks at the moment.

GTT broke out last week but couldn't hold those gains into close. It continues to jump up above $0.95 but always fades into close. I think this stock's near-term performance is entirely dependent on what gold does.

USA had really nice follow through on its breakout and then corrected today on gold's drop. I think this could run as long as gold doesn't have a big down day. Since it has run nicely higher already, I would consider raising the stop to the level of the breakout at around $2.60.

I pointed out the reversal that BLDP had last week and yesterday it gave some back. It opened lower again this morning but recovered the 50 dma into close, which is a good sign. I am hoping to see more follow through tomorrow.

We were hoping to see a reversal in WPRT in this area, and today it did just that by printing a bullish engulfing candle. I am looking for some follow through here. Note the stop-loss on the chart.

Call me a sucker but I am still watching HQD. The Nasdaq had a pretty bad day today and correspondingly, HQD took off. This could be bought with a stop below the low. The reason I still like this inverse ETF is because it still has a nice bowl shaped 50 dma and also because it can act as a hedge against some of our long positions. HXD, which is inverse the TSX, also looks similar and could be traded the same way.

1 comment
bottom of page