Moves above 200 SMABrigus Gold is again on my radar screen as a potential 200 SMA pop and a break of the downtrend. Friday's high volume came in around noon as the price moved 2% above the 200 SMA at $1.58, but volume tapered off in the afternoon so I'm not sure if this was automatic trading or not that triggered the buying. In any case, it closed above the 200 SMA but did not close above my resistance line at $1.60. Monday should be an interesting day for it. Should it move above the $1.60 resistance line I think this would be a good entry and the stop loss would be the 200 SMA line.
I expect to see the next resistance line at $1.77 as the first target for Brigus giving us gains of 10.6%. Second target is the psychological resistance of $2.00 (remember that round numbers often form resistance/support areas) for gains of 25%.
See chart https://us1.campaign-archive1.com/?u=4d6d491aea8e01d93d8a1f390&id=b285737b82#BRD
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Cheers!