PHLX Gold/Silver Sector – Approaching Long-Term Support While Deeply Oversold

By
A A A

  • Stochastics are on a sell signal, but are deeply oversold. RSI is oversold. MACD is on a sell signal.
  • Broke solidly below “cross” trend line (in red) at the 140 level.
  • Approaching a test of long-term trend line support (in blue) currently at the 78 level.
  • Buy on weakness the closer it gets to the 78 level. Use a 73 stop.

 

Created with AmiBroker - advanced charting and technical analysis software. http://www.amibroker.com


 

Olson Global Markets represents our Bears in Control, Early Accumulation Phase. This symbolizes a category of securities that may be subject to the following characteristics.


Psychological Characteristics:

  • Consensus of investors recognizes bearish price trend
  • Majority is committed to this trend
  • Bearish sentiment is strong and emotional
  • Bearish fundamental story is fully understood
  • Majority doubts a reversal of trend is imminent
  • Minority believes a reversal is imminent
  • Bullish commitment to stock is weak
  • Crowd is increasing in size
  • Stock is vulnerable to positive shocks

Price Characteristics:

  • Price is at or near its two-year low
  • Price has fallen substantially from its two-year high
  • Stock or industry group appears to be consolidating and/or forming a base
  • Stock or industry group is in recognizable downtrend

Buy : a stock expected to move higher on an absolute basis in the next 6-12 months.

 

Analyst Information:
Jim Donnelly
401-454-1966
alerts@ogmarkets.com


DISCLOSURES

This report is a publication of OLSON GLOBAL MARKETS, LLC., and remains its property. Any factual
information contained herein is from public sources we believe to be reliable; however such information has not been nor will be verified by us, and we make no representations as to its accuracy, timeliness or completeness. The information and opinions in this report are current as of the date of the report. We do not endeavor to update any changes to the information and opinions in this report.


This report is not to be construed as an offer to buy or sell any securities. It is for the general information of clients of OLSON GLOBAL MARKETS, LLC and other approved parties. It does not take into account the particular investment objectives, financial situations, or needs of individual clients. Before acting on any advice or recommendation in this report, clients should consider whether it is suitable for their own particular circumstances. The value of securities mentioned in this report and income from them may go up or down, and investors may realize losses on any investments. Past performance is not a guide to future performance. Future terms are not guaranteed, and a loss of invested capital may occur.


OLSON GLOBAL MARKETS, LLC does not make markets in any securities and in general, does not engage in trading activities. OLSON GLOBAL MARKETS, LLC does not have any investment banking relationships with the firm whose security is mentioned in this report, and in general, does not engage in investment banking activities/services. OLSON GLOBAL MARKETS, LLC and its employees may have long/short positions or holdings in the securities or other related investments of companies mentioned herein. Officers or Directors of OLSON GLOBAL MARKETS, LLC are not Directors or Officers of covered companies. OLSON GLOBAL MARKETS, LLC or any of its employees do not own shares equal to one percent or more of the company in this report.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Investing Ideas , Economy , US Markets

Referenced Stocks:

Olson Global Markets

Olson Global Markets

More from Olson Global Markets:

Related Videos

Stocks

Referenced

Most Active by Volume

33,110,376
  • $113.99 ▲ 1.77%
25,034,179
    $17.98 unch
24,486,872
  • $7.41 ▲ 2.07%
20,864,535
  • $7.39 ▼ 2.76%
18,600,501
  • $8.30 ▼ 0.36%
17,530,211
  • $8.14 ▲ 3.17%
17,299,208
  • $93.79 ▲ 2.74%
14,669,760
  • $25.78 ▼ 0.19%
As of 12/26/2014, 04:15 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com