Sino Gold is one of the positions we’ve held in Red-Hot Global Small-Caps for awhile. I just recommended adding to the position yesterday. If you bought the U.S. tracking stock, you should have been filled pretty easily yesterday. If you placed an order to buy Sino Gold in Australia, you should have been filled on a morning pullback before the stock took off and closed on its high in the afternoon.
Looking at the chart, you can see an inverse head-and-shoulders pattern. It’s not a perfect pattern — the joint of the neck and second shoulder doesn’t touch the neckline — but you rarely get perfect patterns these days. Anyway, Sino-Gold has pushed higher through the neckline of this pattern, giving us a target of A$8.49 a share.
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