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Sean, please advise a range for a sell target for GOLD. THX
My thoughts on all former positions/targets are here: https://logicalinvestor.net/members-only/updated-target-resistance-levels-for-former-uwr-ap-portfolio-positions/
In Elliott Wave terms, it should go much higher, BUT we’re in such unusual times that the gyrations in it are crazy right now. So, with it being at the $20-$22ish resistance area, if you’re profitable on it, you might consider selling it and having cash freed up for averaging down zones on LI positions.
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You must be logged in to view attached files.I had to delete some of the posts because they were on the free, Ask Sean section and mentioned a current LI pick.
The next resistance is at the $30 – $38 range and GOLD is now in Wave 3 (yay!). So, today, Apr. 9, it is at $21.73, still $8 away from the low end of that range. I am inclined to wait for that resistance range, even though I am up quite a bit on it already. Is that wrong thinking?
Depends on how much you’re up on it, really.
Buying Volume way up today on this stock
True, but RSI, MACD histogram are still weak. $22-$22.50ish still holding up as resistance. IF it can break above that, then it would be confirming wave 3 BUT if it keeps getting rejected in that region, then it could be a longer, drawn-out wave 2 that takes longer to get into a wave 3.
Attachments:
You must be logged in to view attached files.My $22 GTC order triggered today, with dividends having held for years booked a 29.06% profit!
Glad you profited. Awesome!
Sold today Up 72%
Wow! Love that!
I sold my GOLD shares today that I had held since 2015 when I was following Sean through another service. I sold for gains of 83% and 86% in 2 different accounts, with dividends included that makes for annual gains of over 18% in each account. I really appreciate all the investment teaching I’ve recieved over the years, and maybe more importantly the patience that has been taught to stick to this system of investing. Thank you Sean, worth leaps and bounds more than the subscription price!
Awesome! It thrills my heart to see y’all stick with something and succeed like that.
Would it take a few months or a few years most likely to get to the next resistance at $30 – $38?
If its a 5-wave sideways move, that could easily be years. If its only a 3-wave pullback then the surge higher could come much sooner. No one knows for sure ahead of time. The question you have to ask yourself is about the time value of money: Would my money be better off holding out for more in GOLD or in another current LI pick. That’s up to you. But only you can answer that.
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