Quick Win by the Algorithm: Penny Stock TGB on the Rise

Quick Win by the Algorithm

On November 24, 2016, the I Know First algorithm had predicted a bullish forecast for Taseko Mines Limited (TGB). TGB had a signal of 84.27 and a predictability of 0.41. In accordance with the algorithm, the company reported long-position capital gains of 65.00% experiencing a quick win by the algorithm.

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Taseko Mines Limited (TGB), a mining company, acquires, develops, and operates mineral properties in Canada and the United States. The company explores for copper, molybdenum, gold, and niobium deposits. It holds a 75% interest the Gibraltar mine located in south-central British Columbia.

quick win by the algorithm

TGB, currently trading at $0.85 is a small cap penny stock with high volatility. The algorithm correctly predicted its surge in the last 14 days. In just the last 5 days, the low for TGB was $0.77 and the high was $0.91. This may not seem like a lot of money but a penny stock moves very quickly and can be a great money maker or a huge money loss. It is important to note that investing in penny stocks means keeping a very close eye on the market and researching the company in question heavily. Movements can be sudden and extreme.

TGB is up partly due to increase in copper and oil prices. The new demand for copper may come from China as well as the United States. President-Elect Trump has made it clear that he plans on moving jobs back to the country and that he plans to improve infrastructure, which ultimately means that copper will be in high demand. Copper is influenced by the oil industry because investors buy commodity bundles which include copper. Oil has been on a rally lately due to the new OPEC deal that will be in effect this January.

This bullish forecast on TGB was sent to current I Know First subscribers on December 1, 2016. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

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