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Possible Bullish Inside Day Candle Pattern Detected for Royal Gold Inc (NASDAQ:RGLD)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Royal Gold Inc (NASDAQ:RGLD) based on the price action in the company's shares. Yesterday's price range of $86.36 and $87.15 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Royal Gold Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Royal Gold, Inc. acquires and manages precious metals royalties. The Company seeks to acquire existing royalties or to finance projects that are in production or near production in exchange for royalty interests. Royal Gold's gold-focused portfolio contains royalties ranging from those in production and development to those in the evaluation and exploration stages.

Royal Gold Inc share prices have moved between a 52-week high of $88.03 and a 52-week low of $60.21 and closed yesterday at 44% above that low price at $86.99 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 2.5%.

Royal Gold Inc (NASDAQ:RGLD) is currently priced 0.1% above its average consensus analyst price target of $86.92. Royal Gold Inc shares have support at the 50-day moving average (MA) of $52.55 and additional support at the 200-day MA of $45.10.

SmarTrend recommended that subscribers consider buying shares of Royal Gold Inc on June 28th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.76. Since that recommendation, shares of Royal Gold Inc have risen 9.5%. We continue to monitor RGLD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle royal gold inc

Ticker(s): RGLD