Sandstorm Gold (SAND) seeks to complete gold purchase agreements with gold mining companies that have advanced stage development projects or operating mines. This stock is trading up 9% at $12.32 in recent trading.
Today's Volume: 537,000Average Volume: 138,636 Volume % Change: 719% Shares of SAND are soaring today after the company agreed to a $75 million long-term precious metal purchase transaction with Colossus Minerals. >>5 Oversold Stocks Ready to Bounce From a technical perspective, SAND is gapping up huge here with above-average volume, and it's blasted into breakout territory with shares trending above some near-term overhead resistance at $11.19. This move has also pushed SAND into overbought territory, since its current relative strength index reading is now 82. Overbought can always get more overbought in the short-term for any stock. With that in mind, traders should now look for long-biased trades in SAND as long as it's trending above $11.50 with strong upside volume flows. I would consider any upside volume day that registers near or above 138,636 shares as bullish. If we continue to see SAND hold that trend, then this stock could hit $15 or higher in the near future.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts