Over the last three months, NIA's #1 stock suggestion for 2019, Fiore Gold (TSXV: F) or FIOGF in the U.S. market, has formed the most perfect Symmetrical Triangle Trading Pattern that we have ever seen. Ever since NIA's initial suggestion on Thanksgiving at $0.23 per share, Fiore's trading range has been rapidly converging. Initially, during the first two weeks following NIA's suggestion, Fiore rallied by 84.78% to a short-term peak on December 7th of $0.425 per share for a two-week trading range of $0.195.
After bottoming on December 24th at $0.295 per share, Fiore rallied by 35.59% to a peak on January 10th of $0.40 per share. As of January 10th, Fiore's trailing two-week trading range had shrunk to only $0.09.
Most recently, Fiore bottomed on February 4th at $0.31 per share, before rallying by 17.77% to a high yesterday of $0.365 per share. As of today, Fiore's latest trailing two-week trading range has declined to only $0.045.
With Fiore Gold's trading range rapidly converging in recent weeks from $0.195 down to $0.045, Fiore is like a coiled up spring getting ready to explode. For Fiore to officially breakout from its current Symmetrical Triangle Trading Pattern, it needs to surpass $0.375 per share. From our experience, when a stock achieves a bullish breakout from a Symmetrical Triangle Trading Pattern, the breakout point almost always becomes a major base/support level for a short-term rally that is equal in price to the original rally that formed the pattern.
This means, as soon as Fiore Gold (TSXV: F) surpasses $0.375 per share, it will likely begin a major two-week rally of $0.195 or 52% up to a price of $0.57 per share.
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. Never make investment decisions based on anything NIA says. This message is meant for informational and educational purposes only and does not provide investment advice.
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