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  • Long Trade Idea Allied Nevada Gold Corp. (AVN) Along With SPDR Gold Shares (GLD) Weekly Chart September 13, 2009 0 comments
    Sep 14, 2009 04:02 AM | about stocks: GLD, AVN

    AVN is testing it’s latest breakout from above on lower volume. If GLD continues higher then AVN’s breakout from this almost 3 month consolidation could be a nice low risk high reward trade. It is not as liquid a stock that I like to trade but someone may want to take a shot. The average volume is approximately 440K . The upside target initially could be in the $11.50 area. 

    AVN_Long_Idea_Daily_September_13,_2009

    Below is a weekly chart of GLD with the Fibonacci Retracements and one might notice the possible double top setting up on GLD so it is important to look at as much information as you can before entering your trades. Trading is hard work and you have to put in the time to do your homework.

    SPDR_Gold_Shares_Weekly_w_Fibs_September_13,_2009

    **Disclosure: No positions

    Themes: Gold, ETF, Technical analysis, Fibonacci, entries, exits Stocks: GLD, AVN
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