SNDXF due for pullback?
I still very much like the fundamental story in SNDXF, a micro-cap Canadian gold royalty play, run by former SLW CFO, Nolan Watson. But it has had a blistering last few months. The chart pattern over the last few days looks a lot like a climactic top to me. Gap ups the last few days, and likely an “engulfing” bearish candle today (I am writing this pre-close). While the price and action has been very bullish, ironically, the McClellan oscillator (the bottom graph) is near oversold, so I’m not sure what to make of that, especially given the overtly ebullient price action. I will likely take profits here with the hopes of getting back in after some consolidation.