Money4Gold Holdings, Inc. (MFGD) has a gold output that every junior miner on the OTC BB would kill for – but it doesn't own a single mine!Instead … MFGD purchases – at scrap value – surplus, unwanted or broken jewelry from the general public, and then melts it down and sells it at market value!
You've probably seen their commercials on TV – where smiling consumers hands MFGD their gold, platinum, silver or palladium in return for cold, hard cash!
I'll tell you more about the company in a moment – and its latest breaking news – but first, let's look at its chart.
MFGD is on a breakout roll!
The chart shows that MFGD recently posted a 52-week low. And yet, despite posting really strong revenue numbers (see below), the market sold MFGD down to 7 cents.But now, traders appear to have changed their minds about MFGD:
- The stock is undergoing strong accumulation – it has reversed trend and is currently on a strong bullish run
- The MACD has strong bullish momentum and is heading for the "0" line. Once that level is crossed, MFGD's moderate bullish signal becomes a "strong" bullish signal
- Stochastics are oversold, but history has shown a stock can run oversold for a long time with a bullish MACD
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