The Sprott Physical Gold Trust (PHYS) posted a strong-volume pocket pivot today along its 20-day exponential moving average. This is an interesting technical occurrence given that it did not occur in any other gold ETFs or ETNs. The PHYS is directly backed by vaulted physical gold, so is unique in this respect.
The VanEck Merk Gold Trust (OUNZ) is another physical gold-backed ETN that showed strong upside volume today along the 20-day exponential moving average. OUNZ did not post a 10-day pocket pivot like the PHYS, but note that it has posted two five-day pocket pivots (one today, one on Monday) over the past three days, which is also constructive. Both could be considered actionable using the 20-dema as a selling guide.
Pocket Pivot Review - Sprott Physical Gold Trust (PHYS) 3/23/22
|23 Mar 2022 20:41 ET
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.