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Small Cap Precious Metals Miner Coiled for Run Higher

by | Oct 15, 2024

Seabridge Gold (SA) shares of the junior gold miner are coiling in a tight squeeze pattern and hitting the ready to run scan as its sees MACD cross bullish and price closed strong on Tuesday back over its 8/21 EMA’s with a trendline from the highs looking to be cleared. A move above 17.50 likely can ignite for momentum higher to 19 near the August highs and a VPOC up there while a stronger upside breakout could run to 20 which is closer to the 2022 highs. SA has seen some bullish options flow the past month with a 9/30 buyer of 700 January 2027 $20 calls at $3.97 and 900 May $15 calls bought for $4.00.

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