Tanzanian Gold Corporation (TRX)

Trade Setup

Stocks found in this category are low priced stocks priced between .50 and $1, with at least 50k shares of average shares trading per day.   The stocks are pausing a trend either up or down, with a new bar over the prior day open or close.  These are high reward to risk stocks with the potential for very sharp moves.  A stop should be maintained at the low of the prior day.   Target prices for exits can be determined by using the next level of resistance higher or by using Fibonacci resistance levels found using TradersPro.

Tanzanian Gold Corporation engages in the exploration and development of mineral property interests in the United Republic of Tanzania. The company primarily explores for gold deposits. It holds interest in the Buckreef project located in north-central Tanzania.