GORO is a bulletin board stock I've followed for nearly two years. I am long the stock and more than doubled a small position today. They finally got their permit as it would seem. It's a play on the weekly chart but moreso fundamentals. You can do your own research on this pick. I've posted the weekly chart below....it's been consolidating. They have very nice top end potential based on fundamentals and a solid, reputable management team. Again, it's risky and on the BB. It does have great backing with Hochschild behind it. I've held a tiny positon for a while as an investment but the fact that it took soo long to get the permit had me concerned and kept me out....but love their properties.
My plan is to buy more over the coming week depending on the action in the XAU and daily GORO chart. I would like to see a break of 5.5 on volume. My stop is a fundamental negative catalyst or a weekly close 3.36 which is wide but gold stocks are volatile. I'm looking for double digits on the upside.
http://stockcharts.c...743&are=555.png
Edited by Cirrus, 13 August 2009 - 12:42 PM.
