New Trade Alert: Gold Mining USA Inc. ( GMUI )
Friday was an important day for us as our last trade alert held at key support levels and looks to further unleash gains. We are continuing to monitor it for upside opportunity.
In the mean time we would like to bring to your attention a short-term momentum trade setup for Monday that has the makings of a potential winner for us.
GMUI is trading below its 50 DMA of .10. From current levels, this presents upside opportunity over the near term of about 42%.
Supporting this potential near term bonanza is a very well positioned RSI of 42 on the daily chart. This position gives GMUI the right balance of upward momentum and scope for a strong, high-rewarding bounce opportunity.
Daily volatility levels are rising with the most recent sessions seeing volume breakouts as high as 1200%. The thing to keep in mind is that in the most recent of these volume breakouts, GMUI has traded in the green. This is positive demand and it looks to be stable enough to support a potential push through resistance levels.
Interestingly enough, GMUI has seen this sort of setup several times in recent months. In December it rallied to a high of .17 after opening at .11 – traders pocketed up to 54% in intraday gains. Then on February 9 it rallied to a high .1650 from an open of .11, delivering one-day gains of more than 50%.
Those are pretty impressive one-day returns; they show with some potency that GMUI’s chart setups actually follow through on their promise.
Then there’s the float, which according to OTCmarkets.com is around 5.6M shares. A float of this size could become a catalyst for upward movement.
Conclusion: GMUI is trading well below its usual breakout line of 11 cents. This means that from the current entry of 7 cents, traders are in line for potentially huge returns should the play make good on its bullish upside potential.
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