Zignals Stock Charts: Three Gold Miners
Gold bugs have seen a steady improvement in the commodity pricing with the recent price cross of its 50-day MA and the subsequent cross of this moving average by the 20-day MA. However, the best form has emerged from some of the gold mining stocks. Here are three worth watching; two of which have YourCall information.
The first to emerge from a 9-month cup-and-handle pattern is
Gold Fields Ltd (
GFI). The break beyond $12.63 hasn't cleared all trouble given reaction lows from early 2008 at $14.00 will continue to act as supply. The potential 1-year target is last October's highs at $18.22. I have a
YourCall for a push to $18.19 with a stop at $11.69.
The second stock,
Golden Star Resources (
GSS) has advanced almost 100% from April lows so is perhaps in need of a consolidation period before pushing on. The Cup-and-Handle may make more sense as a "W" bottom but the prognosis going forward is the same. I have a loose
YourCall entered with a Target of $4.25 but a broad stop at $1.69. It will be a slow burner.
The final stock of the three,
Kinross Gold Corp (
KGC) hasn't broken from its base and is still penned in by resistance at $19.49. I have not entered a YourCall on this but an
Alert for a Price Cross of $19.49 should suffice.
Keep an eye on all three...
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts, and stock charts website
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