Loading ...I Like This Chart (A Lot)
This is a speculative gold exploration company(AUST) I have posted about a few times before. Look at the recent chart. After getting washed out, it has based and looks like a pop higher is on the horizon. The adage about markets not necessarily repeating, but often rhyming comes to mind.
Look at the action back in June when after seven days in a basing area the stock popped and went 50% higher in two days. I don’t remember what the catalyst was and am not suggesting the same thing will happen here. What I do believe is that with gold at ATH’s, the chart at a relatively low risk area, one who is willing to speculate with a small stake, should enter here around a dollar. ( When I started to write this it was just under 96 cents. By the time I copied the chart it was $1.02)This is not investment advice, just my opinion.) 
Bought some at it’s inception. It went crazy and I forgot about it. Should have sold back then. Hopefully it will get back to a few dollars, then I will sell. I remember not being very impressed with their business, but who knows. Have you looked into if what they do seems on a path to success? Fundamentals? I don’t want to spend the time because it never seems to matter anyhow.
Not a lot of info on it. They have three projects in western US. Fundy’s don’t mean much unless they hit a good find. More likely with these lottery tickets you trade the chart and or hope for a takeout down the road.
Thanks.
One last question, since I’m going to maybe sell this if it moves over $1.50, my initial buy price. Do you have a number in mind as to what according to charting this could possibly reach? Don’t worry. I wouldn’t hold you responsible if it tanks before reaching that number. It’s not a big investment anyhow.
I don’t do typical price targets based on some type of formula. I do base targets on either the resistance on the chart and use fundamentals when they are applicable. This one is tough but I would urge you to give it some time based on it being a small position, the exploration and junior lottery type tickets have been out of favor for so long but this is the cycle you want to be in them going forward. Unless you have a better place to put those funds, see how it reacts when all the lower priced miners start moving. If it doesn’t at least follow the crowd you can always bail. Good luck.
Thanks again. I’ll just let it ride. As gold continues to explode so might these little fellers if the excitement ever hits gold stocks like it did a few times in the past.