Franco-Nevada: A technical gold play

A cup with handle formation is a consistent bullish continuation pattern. Stocks that can be bought as they pull back into a recent cup base are strong bullish plays. The Franco-Nevada (FNV) gold royalty company is a good gold play. FNV is already 32% higher year-to-date and sports a dividend yield of 1.2%. Earnings are moving in the right direction with three consecutive positive numbers in the last three quarters. The stock rose firmly in early August with active volume. It broke above a $76.37 cup base trigger on 
Aug. 10. Look to enter on a pullback at $77.50. On the weekly chart you can see the buy point above a one-year long weekly cup base pivot of 81.26, which would register an all-time high if taken out.