Junior chart vs fundamentals II
I wrote here some time ago that with junior gold miners, explorers it is better to buy weakness than the break -out, although sometimes buying a breakout can seem safer, but not with NXS this time:
Last time we had a shake out in RGC, nobody is considering buying this stock now, even fundamental newsletter writers are cautious:
This could be the right moment for RGC:
The same can be said for several other beaten down explorers:
One I like in particular is VG, a junior explorer backed by FSM insiders
Another newly created company is C.V, backed by ex-Fronteer and Pilot gold management:
I know there are plenty of other interesting names, I just want to show that in this sector you can get better entry points by buying weakness and bottom levels instead of buying technical break outs. Unless of course you are an active trader and use stop loss levels, but I guess in junior mining this is not the right strategy.
First time commenter here. I don’t see any reason, technical or otherwise, for why NXS broke down so badly on huge volume.
In the words of Schultz: “I see NOTHING!”
I see speculation.
Do you need a reason why a stock sells off? More sellers than buyers. And till now NXS never experienced a real shake out as there always have been lots of short term speculators in this stock. Now I hope they will be gone. And with the company hardly publishing any drilling results I find it normal Nxs investors get nervous and some take their profits or losses and move on. I have no opinion on Nxs but near 0.125 there seems to be support on weekly long term charts.
Only thing that I can find is the insider trading. NXS director sold a small amount of shares awhile back but didn’t seemed to hit the news until early next week.
https://ledgergazette.com/2017/09/11/nexus-gold-corp-nxs-director-sells-c10800-00-in-stock.html
There’s a gap at 0.12 and honestly, I didn’t think it was going to get filled. It looks like we are right there.
It looks like it did a last minute touchdown (low 0.115)…