Trading Idea of the Week
As the general markets work off some overbought conditions, we are looking to Trade Ideas technology to find things that are oversold and can give us a more conservative entry. Many of the companies showing up on this scan are Gold Mining companies. Companies that are down big in a 20-day range but have crossed back above their 5 day average are all over this scan.
For this reason, we are selecting GDXJ which is an ETF that tracks the smaller gold mining companies in an attempt to capture more volatility. The Trade of the Week is considered live above 34.87 all week. The suggested stop is 32.59. As you can see on the daily chart below, the range for this ETF has been 32.50 to 42.50. So the risk reward here is good.
You can also Check out “Holly” our New Artificial Intelligence Trade Ideas Investment Discovery Engine on our Showcase Page on the My Trading Buddy WebsiteYou Can also view our LIVE Stocks Watchlist on the My Trading Markets Analysis Magazine HERE – with Three groups of Stocks to Watch during the week. The Stocks Watchlist data will be for; Top 5 Stocks Up the Most over 5 Days % with Positive EPS, Top 5 Biggest % Movers into the Close and Top 5 Turnaround Candidates after Gap down.
Interactive Chart: We have included an interactive chart below where you can keep an eye on the GDXJ, Junior Gold Miners Trade Idea, Pop out the chart, change time frames and use drawing tools and indicators. You can do all your analysis on GoPro Inc right here in this post.