GORO is a popular stock in the chat room, but I don’t much track it because, well, because it brings up unpleasant memories of my childhood dentist, Dr. Gorodetzer. I never had Novocaine or gas because my father, a physician, did not trust dentists to administer anesthetics. (I was also the only kid on the block who wasn’t allowed to view my feet in the fluoroscopes that were popular in shoe stores during the 1950s.)
With that out of the way, and for what it’s worth, the stock is closing on a minimum downside target at 12.22, the Hidden Pivot ‘D’ of the pattern shown. Unfortunately, any support that it evinces is likely to be for naught, since yesterday’s destruction refreshed the bullish impulsiveness of the weekly chart by exceeding an ‘external’ at 12.75. Might I suggest giving me a nudge in the chat room if whatever rally that occurs from here looks shortable via camouflage? Hidden Pivot logic suggests this opportunity might arise on a rally back up to the 17.94 midpoint pivot. _______ UPDATE: The stock plummeted to 12.13, just 9 cents beneath the target identified above, before DaBoyz applied the squeeze. Their rally got all the way to 13.71 — and more power to you if you got profitably involved on the basis of my forecast. Now, in the unlikely event GORO takes out the 13.44 midpoint resistance of the pattern shown, it could hit 14.23 in a romp. ________ UPDATE (November 19, 9:00 p.m. EST): The stock is going higher, since it not only handily exceeded the 14.23 target flagged above, it generated a fresh impulse leg on the lesser charts in the process. Camouflageurs looking for the next prospective boarding opportunity should focus on the 15.56 ‘external’ recorded on 11/12. It is easily visible on the 30-min chart, although I’d suggest looking for your ‘X’ trigger pn the 5-minute or less. _______ UPDATE (November 25, 11:29 p.m. EST): I’ve refreshed the chart to show the stellar oppportunity to get long that resulted from a small pullback from just above the 15.56 ‘external’ noted above. If anyone did so, please let me know in the chat room so that I can establish tracking guidance for a small position.