An apparatus for guiding and controlling the path of travel of a continuously moving metallic rod, such as rolled copper rod. A rotating wheel has a peripheral groove for receiving and pulling the rod for maintaining proper tension thereon. A continuously moving chain is operatively mounted on a frame which is pivotally mounted so that the chain can be selectively moved in and out of peripheral engagement with the periphery of the rotating wheel. When the chain is in peripheral engagement with the rotating wheel, the chain positively forces the rod into engagement with the peripheral groove. Thereafter, the chain is moved out of peripheral engagement with the wheel and the moving rod remains in engagement with the groove between an entrance position and a discharge position. Preferably, a device signals when the rod is in engagement with the peripheral groove and moves the frame for the moving chain to a position spaced from the rotating wheel and from the moving rod.