FNV - Weekly - Great place to buy or add!

6 Jul 2022

The setup looks good to me on the weekly chart on this really fantastic long-term winning stock. The weekly RSI is beginning to approach oversold/fair value levels and the Williams Vix Fix indicator is now signaling a bottom as well. In terms of price, we may double bottom in the low 160s support zone so the downside risk feels more minimal at this point and should be temporary. Personally for these reasons I am adding to my long-term position at this level as we have now seen a nice 20%+ correction since the previous run-up earlier in the year. In an environment with rising rates, not much beats owning a company with NO debt/leverage eating away at their cashflows.