[Opening Position in Seabridge Gold (SA)]
Dear Member:
Seabridge Gold (SA)has managed to stay above price support on the weekly chart for about the last 8 weeks. It has essentially been consolidating in the area between $15 and $16 over the last couple of weeks and though it has dipped as low as $14.47 during that time period, the support at $15 looks fairly strong. The stock is currently trading around $15.45. DMI recently turned positive and MACD has bumped into positive territory as well.
I like the stock at $15.45 or better and will exit on a close below $14.45 in the event it turns against me.
DISCLOSURE: At the time of publication, I have no position in SA.
Sincerely,
Bill Kraft
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