Past Champ (USAU) Complete Thursday Update
USAU had an interesting Wednesday.
Dropping breaking news before the opening bell, USAU drew some serious attention early.
Hitting a high of $11.63, a level it hadn't seen since June of 2021, USAU could be starting to build some strong potential support at key levels.
Closing the day Wednesday over multiple lines of potential support in its 13-Day Exponential Moving Average, 50-Day Simple Moving Average, and its 200-Day Simple Moving Average, USAU could be in position to start retesting even higher previous highs in the near term.
Plus, if you didn't get a chance yesterday, read the big company news now: U.S. Gold Corp. Announces Positive Prefeasibility Study Citing a Pre-Tax NPV of $323Mn and IRR of 39.4%
With a low float and multiple triggered technicals still in play, USAU requires your full attention again this morning.
Read my initial report below and get past champ USAU on your screen quickly.
Let me get to it quickly because the markets are open and you're busy.
I've got 4 words for you...
Nasdaq. Past. Champ. Alert.
Got your attention? Good.
In fact, this Nasdaq profile even delivered a move over approximately 100%+ in the blink of an eye after one specific time I brought it to your attention.
Could it be gearing up for another potential short term breakout?
Expert: Gold Set To Potentially Rally In Coming Months (1)
GraniteShares founder and CEO Will Rhind sees runway ahead.
His firm is behind the GraniteShares Gold Trust (BAR), the fifth-largest gold ETF on the market by assets under management, according to ETF Database.
“I’m very positive on the outlook for gold for next year and the reason is because of what’s going on with the macro environment, particularly inflation,” Rhind said recently.
“We obviously had the tapering announcement [recently] and those that expected the gold price to fall were surprised when it actually mounted a fairly significant rally and I think that’s in a way due to, still, the dovishness coming out of central banks” in the U.S. and U.K., he added.
"Combine rate hike-resistant central banks with a supply chain crunch and inflation that may not be as transitory as expected, and it could attract even more buyers," Rhind followed.
“We have real inflationary pressures that, the longer they persist, the more of a problem that causes and the more people will look for inflation hedges.”
“There just aren’t that many places to hide and gold is one of those places that people have always gone to in times of stress and I think this data’s a reason for still believing that gold is going to be there next year if there’s an official acknowledgment that inflation is a problem," Rhind furthered.
For these reasons and more, I've been tracking different gold related companies and have been keeping an eye on a past champ closely that you should get on your radar.
Today, there is only one Nasdaq profile to have on your screen:
*U.S. Gold Corp. (USAU)*
U.S. Gold Corp. is a publicly traded, U.S. focused gold exploration and development company. The company has a portfolio of exploration properties.
Copper King, now the CK Gold Project, is located in Southeast Wyoming and has a Preliminary Economic Assessment (PEA) technical report, which was completed by Mine Development Associates. Keystone and Maggie Creek are exploration properties on the Cortez and Carlin Trends in Nevada. The Challis Gold Project is located in Idaho.
But maybe more importantly, this has been a 3X champ after my alerts.
Brought to you back on August 13th, 2020, at approximately $11.32. it climbed to $14.27 on August 18th, 2020 for a near $3.00 move.
Before that, I released this profile on March 24, 2020, at approximately $4.88 and saw it run to $12.74 on March 25th, 2020, for a 161% (approx.) run.
More recently, I alerted USAU back in December of 2020 and watched as it opened at $13.92 before running to a high of $17.40 within 1 week for a short-term move of approximately 25%.
Amazing 5 Year Run For Gold
Just check out the chart for yourself: