Tax loss selling generally sees investors sell losers, but sometimes stocks with big drawdowns are a roaring buy for new investors while working well as a tax loss sell for others.
Here’s a look at the “infamous” Novo Resources Corp. (NVO:TSX.V; NSRPF:OTCQX):
This stock got a lot of investor interest in the $5 and higher zone and collapsed soon after that. New investors could buy the entire 10-cent to 1-cent zone in one-cent increments, while those holding large paper losses could liquidate for the tax loss play.
Copper stocks are incredibly interesting right now.
Here’s a look at the junior copper stocks ETF:
Whenever RSI and Stochastics are oversold at the same time as a huge daily chart volume bar appears, a very nice rally occurs.
One low-priced copper stock that’s a definite medium-term buy right now is NorthWest Copper Corp. (NWST:TSX.V; NWCCF:OTCQX). All the oscillators are flashing weekly chart buy signals and a breakout over the 30 cents resistance zone could see it surge 200% higher within a year!
For low-debt enthusiasts, Fortitude Gold (FTCO:OTCMKTS) is worth a look.
The company operates in the stable Nevada region. Their goal is to stay debt-free and do it while paying a monthly dividend. Investors could buy now, using a stop at about $5.70.
2025 should be a good year for Fortitude and its investors!
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