ALIAF stock chart

ALIAF daily Jan 16th

ALIAF (Alacer Gold Corp) was one of the top picks in the mining sector added to the Live Chart Links page on Dec 18th.  As ALIAF is a low-priced, over-the-counter gold stock, it would be best to adjust the position size down to account for the above average risk and return potential.  In addition to the stock recently falling to a key support while forming positive divergences on the MACD & RSI, volume has surged on the buying off that support level.  Currently the stock is just shy of the Dec 16th reaction high of 2.34 and any move above that level would likely be the catalyst for a relatively quick move up to the first target (T1 at 2.63, actual resistance around 2.70ish), with additional targets likely to be added as/if price approach the downtrend line/T2.

Click here for the live chart of ALIAF.

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