All that glitters isn't gold - Long ASM @ 6.99
By:TradingView
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I've lost count of how many ideas I've posted here about this stock, and I've traded it way more than I've posted. It has literally never let me down, so I'm coming back for another bite of this apple.
Precious metals have had a tumultuous last 6 months, but I see no reason to avoid this one. Silver is more insulated than gold from the macro risks of global central bank liquidations, and can also be used in a bunch of AI-adjacent industrial applications. That's a nice backstop here.
Additionally, the stock is still firmly entrenched in an uptrend going back to early 2024. There is nearby support at the March lows and the stock is firmly within the bounds of its 6 month regression channel - all green flags.
The play is simple here. I will be looking for a 2.5% 1 day gain as my ideal scenario. Barring a quick take out at that level, FPC is my secondary exit. That 2.5% goal might seem conservative given that the average trade has been +3%, but the per day return is what I focus on. 2.5% in one day is 3x better than the typical per day return over the last 6 months here for me. Besides, getting a 1 day return that is over 60x the market average is a really good trade any time you can get it.
If the trade takes longer to resolve, I will add and subtract tactically along the way. The sequence may be slightly different than usual, but the premise is the same as the vast majority of the ideas I've posted in the past.
Precious metals have had a tumultuous last 6 months, but I see no reason to avoid this one. Silver is more insulated than gold from the macro risks of global central bank liquidations, and can also be used in a bunch of AI-adjacent industrial applications. That's a nice backstop here.
Additionally, the stock is still firmly entrenched in an uptrend going back to early 2024. There is nearby support at the March lows and the stock is firmly within the bounds of its 6 month regression channel - all green flags.
The play is simple here. I will be looking for a 2.5% 1 day gain as my ideal scenario. Barring a quick take out at that level, FPC is my secondary exit. That 2.5% goal might seem conservative given that the average trade has been +3%, but the per day return is what I focus on. 2.5% in one day is 3x better than the typical per day return over the last 6 months here for me. Besides, getting a 1 day return that is over 60x the market average is a really good trade any time you can get it.
If the trade takes longer to resolve, I will add and subtract tactically along the way. The sequence may be slightly different than usual, but the premise is the same as the vast majority of the ideas I've posted in the past.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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