So the MACD and RSI for GoldCorp shows that if it were to continue higher, its gonna have a trajectory that is unsustainable. I thought it would be right to take profit on that trade. Luckily, i moved to cash at $32.85.
The way it takes out the moving average convincingly seems to indicate gold stocks may resume their uptrend. Those guys that still believe in the gold story, or those that do not believe in it can then make their decision. Its a win-win for all.
Lets see the support at $27.50 holds. Next at $23.20.
Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.
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Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Fee-only Wealth Advisory firm Providend.
You can view Kyith's current portfolio here, which uses his Free Google Stock Portfolio Tracker.
His investment broker of choice is Interactive Brokers, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.
You can read more about Kyith here.
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