Friday, October 13, 2017

Gran Colombia Gold Corporation (GCM.TO) Looking Sexy

It's difficult to describe a stock as "sexy" but miner Gran Colombia Gold (GCM.TO) is putting in a very attractive looking bullish declining wedge which is a pattern I've always had a strong affinity for. Given the uncertainty and previous comments of the U.S. dollar recently, a bounce in gold and gold related services is to be expected. My momentum indicators are all very positive and the traces are all above the EMA(34). I'm anticipating a bounce off of the EMA(34) which I think will be good for at least a near-term trade. Please be careful though as this and many other equities are quite deviated from their mean making this quite risky.