This stock is a massive buy right now. The shorts destroyed it but now they are getting theirs. The covering started last week when we started having 5% up days for no apparent reason. The volume today was more than twice normal and it was up 10%. Look at this chart
It has to fill that gap from $4.20 to $3.20 and it's likely to do it in the next month or so. It should fill the gap in the same time it took to create it which is not long at all. I have seen this stock have 20% up days for no good reason. Today it was up 10% which is twice what many of the gold stocks were.
It has been a target of the ratio traders and it should be free money from $2.80 to $4.00, after that you are on your own but the shorts should be making money for you if you buy it now. Course it's likely to make another big move tomorrow.
Currently trading at $2.95 up $.21, pretty damn good. I have been adding each day. This stock has a ton of momentum right now and has plenty left to get to $3.25 where it should be drawn to fill that big gap up near $4. Last time it got to $3.20, it was kicked back down like a dog but gold wasn't rising too strongly either. Now with gold breaking out, when it hits $3.25, it should fly to $4 quickly.
I loaded up when this was at $2.50-75 range and will continue to add until around $4.00. They were hit really hard because their average cost went up dramatically and some rumors say there cost is $900-$1000 per ounce. So the stock took a beating but now with gold reaching $1600, even at a cost of $1000 an ounce they will be making bank when they are producing a couple hundred thousand ounces per year. Strong Buy with Gold at these prices.
Exactly why I am buying it, $900/oz is going to look cheap with gold at $1800 by the end of the year. I bought some more today on the retrace to $2.75 which is right where I picked it up two days ago. Today's retrace makes the chart look like a nice five wave up that just completed a five up as a one. Yesterday and today's down was the two or possibly another down day tomorrow. So the three up should take us to $3.50 or more, I think.
I am no Elliot Wave expert but that is just a guess at where we are. Where we are going is to $3.50 or higher if this is right.
https://i.imgur.com/W6pnp.png (click for big)
I believe the risk / reward ratio is nice. Very nice.