Power Plays New Idea: GLD & Shop Exit
November 27, 2023

By Scott Redler

First, we're going to exit Shopify (SHOP) this morning. It's up big on strong Black Friday numbers, but this name might be done for now. So let's lock in the win and close it for Power Plays.

Now onto our new name:

Name: SPDR Gold Trust

Ticker: GLD

Price: $185.52

Needs to Hold: $173 to $182

Price Objective 1: $196 to $205

Price Objective 2: N/A

GLD has a big cup & handle pattern building on the monthly chart, and it's looking good short-term. It looks ready to lead in late-2023 to early-2024, so I want to position in now.

If it can get over $191.36, it could see the $196 to $205 area in short order.


Scott Redler Positions Disclosure as of 2023-11-27 at 8.43.22 AM