Technically it's closing in on the end a triangle and should break to the upside. A lot of money moved out of Seabridge and into producers when Gold took off in January which caused it to pull back to it's current position. The past two years Seabridge has prospered coming out of May when most producers pull-back.
They only have 37 million shares outstanding and are sitting on 50 million ounces + of gold. Extremely undervalued stock and the only thing thats changed since November when it was $39/share is they increased their proven ounces of Gold and POG has increased by $100/ounce!!
2 comments:
Much more intelligent than my answer...lol
mdp
market action looking better..
Good Morning!
Yes, the markets are rigged. You can tell by Hawk's charts and by watching the news. Why, just last week the FED pretty much bought BSC all by themselves.
They just needed JPM to do the dirty work.
Strange times indeed. I'm not sure where this market is going, but I too think it's over amped and will suffer a loss as the dollar declines to $0.52. The US isn't going away, but life here is going to change.
They're putting up 400 miles of fence US/Mex border...funny thing about fences: Not only do they keep others out, but they also keep us in!
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