Ely Gold Royalties Inc ELYGF

TA

[feenewbie]

Hey Colt - it's looking more like a flag forming IMO (not shouting, chuckle!). I think I see where you may be anticipating a reverse H&S pattern however, for this pattern to form, the stock first needs to be in a noticeable downtrend (certainly not a sustained Ely characteristic).  Then the head of the middle formation needs to be lower than the left shoulder.  I use longer term charts, i.e., 6 mths/1 year to see if a formation is occurring (I use shorter periods as well, but confirm with the longer term to verify the downtrend).  A good example is Kirkland Lake's chart (KL - NYSE).  This is not my charting, but I was reviewing someone else's chart recently.  A D/T bottoming on Feb 10/20 forms the left shoulder, a trough up, then the bottom  head formed on March 15th, trough up, with the right shoulder bottoming on ~March 20th.  (A bearish H&S forms on an uptrend,  and a bullish inverse H&S on a downtrend).  If I'm overlooking something, please let me know - I can't find what you are seeing on any of the time frames I'm using - but things can change in minutes lol!

Ely's TA's are looking good on the daily chart although, as previously mentioned, the MFI could use some improvement (i.e., institutions buying large lots).    Slow Sto under 80 gives room for movement up - the Fast Sto is heading up, so maybe up we go, or perhaps more range consolidation? Macd bullish cross looks imminent, so a crossover on Monday could be very bullish. Ely hit my target of $1.88, now awaiting the next leg up - we are range bound at the moment.  Both the monthly and weekly charts are showing overbought and parabolic, so keeping an eye on those charts to see if any TA correction developing.

Good and interesting posts on Trump/Biden guys - a double lol Shylockreturns!

I'm still holding US$ Jimbojim - I haven't found any other currency that might outperform it - given that the global economy is worse than the USA's -  thus other countries' currencies look even more unattractive than the USA's mess.  Thoughts?

A few stocks look like short term TA buys next week - but, given Trump's often inflammatory statements, I don't like to hold S/T plays over the weekend.  Still just taking bites and bounces rather than starting any LT plays.   GL all

[colt45acp]

Thanks Feenewbie , good to know. gREAT POST. GLTA. Just a little yell.