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Strategies & Market Trends : Dino's Bar & Grill

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From: Goose94	10/23/2013 6:24:46 PM
	of 203517

Junior Gold Stocks: Textbook Volume Stewart Thomson Message 29185158 It could be argued that there is also a substantial double bottom pattern in play, with the first bottom defined by the July lows in the $22.50 area, and the second bottom defined by the lows in the same price area that were made just a few days ago. The neckline is the HSR zone at about $31.50, and the upside target of the pattern is $40. Please click here now. The same double bottom formation is apparent on the GDXJ chart, and the trading volume pattern is excellent. Double bottom patterns are reversal patterns, and they usually precede substantial intermediate or primary trend movement. A classic double bottom pattern tends to be defined by high volume on the first bottom, and low volume on the second bottom. That's certainly the case here, with GDXJ! Many individual stocks show similar chart formations, which is great news for junior gold stock investors. The technical target of the GDXJ double bottom pattern is $75, and the “launchpad” is likely a 3 day close above $55!

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