This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Sandstorm Gold (
SAND) is a growth focused resource based company that seeks to complete gold purchase agreements with gold mining companies that have advanced stage development projects or operating mines. This stock closed up 6.1% to $5.51 in Tuesday's trading session.
>>5 Rocket Stocks to Buy Now
From a technical perspective, SAND ripped higher here right above some near-term support at $5 with above-average volume. This move is quickly pushing shares of SAND within range of triggering a near-term breakout trade. That trade will hit if SAND manages to take out its 50-day moving average at $5.75, and then once it clears some near-term overhead resistance at $6.21 with high volume.
Traders should now look for long-biased trades in SAND as long as it's trending above some near-term support at $5 and then once it sustains a move or close above those breakout levels with volume that hits near or above 685,886 shares. If that breakout hits soon, then SAND will set up to re-test or possibly take out its next major overhead resistance levels at $7 to $7.50.
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.