Long-Term Buy for JNUG

 

Recent analysis by the Equity Management Academy shows that the Direxion Daily Jr. Gold Miners Bull 3X (JNUG) ETF is an excellent long-term buy.  

 

Academy CEO Patrick MontesDeOca, said JNUG is a “remarkable trade,” which is sending a “very clear buy signal.”

 

MontesDeOca said that there has been a Fibonacci retracement in JNUG since a $33.29 high in August. The ETF then reached a low on the December 19, 2016. Since then, JNUG has developed a trending pattern up and, MontesDeOca said, “Shows every indication of the beginning of a really exciting move. We have a fairly sizable move coming in the price of gold. It could be a generational move.”

 

After the $17.93 close last Friday, the Academy’s proprietary trading system, the Variable Changing Price Momentum Indicator (VC PMI) recommends buying into JNUG at $17.03 and buying more if it retraces to $16.12. If the price comes down to these levels, there is an 80% probability that the price will revert back to the mean of $18.71. If a price of $16.12 is reached, JNUG would be extremely below the mean, with better than a 90% chance that it will revert to the average price of $18.71. If JNUG closes above $18.71, it will trigger a bullish trend with a target of between $19.62 and $21.30 short-term.

 

Overall, the recommendation is to go long on JNUG. “The market has come down to a very good buying level,” MontesDeOca said. “We have clearly reached a level of support.”  

 

MontesDeOca cautioned that JNUG is a “very volatile ETF” and investors should be aware of the risks involved with the JNUG 3x velocity ETF.

 

For more information on the criteria to join the Academy’s select group of investors or to see every trade recommended by the VC Price Momentum Indicator for the past few years and its impressive rate of return, please email support@ema2trade.com or call 805-418-1744.