The Chart of the Day is Minco Gold Corp (NYSEMKT:MGH). This is a small cap stock that should only be considered by aggressive investors who have many other investments and can take a small position in a highly speculative stock. This is to show you the power of the Barchart screeners to find unknown possibilities.
I found the stock while doing my standard sort. Use Barchart to sort today's New High List for the stocks with the most advances in the last month, eliminate the stocks that do not have positive results in the last week and month, then use the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 1/6 the stock has gained 31.82%.
From a press release - MINCO GOLD CORPORATION is a pioneer among western mining companies in China. The Company has engaged a dynamic, proven management team in China and Canada to evaluate over 400 projects in China, leverage its strong relationships with key Chinese mining organizations and acquire one of the leading asset portfolio of any western mining company in China.
Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
Barchart technical indicators:
- 80% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 18 new highs and up 70.59% in the last month
- Relative Strength Index 77.59%
- Barchart computes a technical support level at .24
- Recently traded at .29 with a 50 day moving average of .19
- Market Cap only $14.61 million
- There are no analysts following this stock so there are no revenue or earnings estimates
- This is not a US company
- This is a true penny stock
- This is a Canadian company developing Chinese gold properties in China
I hope I have given you enough red flags to realize this is not an "investment"; this is a highly speculative situation only for well heeled investors that need a little excitement in their life.. The only information you have is the price. It is a technical penny stock and should be played as such. Watch this on a daily basis and be prepared to bail on weakness.
I am not investing in this stock.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.