Augusta Gold (TSX: G) today traded its highest volume in six months!
G gapped up this morning to its $1.88 per share key breakout point, which was very bad because unless a stock gaps up while simultaneously surpassing its 200-day moving average, which is what occurred on October 25th, 90% of all other gap ups tend to get filled in. A worst-case scenario would be G closing above its most important key breakout point of $1.88 per share on the same day as a gap up.
Luckily, whoever has been selling G shares for the past month and holding the stock at artificially low levels, sold off their final block of stock and G finished the day unchanged at $1.81 per share.
This is a best-case scenario for G, because this morning's gap up has already been filled and the seller is now completely gone for good. The fact that somebody was willing to buy all of his remaining stock in a single block at $1.81 per share shows that there is HUGE pent-up demand for G shares.
Look for G to close above its most important key breakout point of $1.88 per share as soon as tomorrow! When G closes above $1.88 per share it is likely to explode by 50%+ within the following 2-3 trading days!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA's President has purchased 174,200 shares of G in the open market and intends to buy more shares. This message is meant for informational and educational purposes only and does not provide investment advice.