EMX Royalty is a fantastic company with many fantastic assets. I was examining the chart, thinking "The upside in this one is enormous". But something was off. Sure, price could easily break all time highs to confirm an overall uptrend. But why wasn't the price reaching the 50% level on the Fib retracement? And what can be made of the massively declining quarterly earnings? And then I noticed it.
Earning is tomorrow, March 28. If earnings is a miss, which is likely, then the price could drop down and complete the second shoulder of a head and shoulders pattern. This will be temporary but in the short term I'm short EMX.
Earning is tomorrow, March 28. If earnings is a miss, which is likely, then the price could drop down and complete the second shoulder of a head and shoulders pattern. This will be temporary but in the short term I'm short EMX.