Kinross Gold (KGC) produced 527,000 ounces of gold in the first quarter, almost twice that of Yamana Gold (AUY). Kinross Gold (KGC) did this with an aggressive acquisition strategy that caused revenue to grow by 61% while lowering per once of gold cost from $472 to just $419.
With the Paracatu mine in Brazil expected to hit full capacity by the end of the 3rd quarter and the Kupol mine and Buckhorn mine opening, their produced gold ounces will continue to rapidly grow.
Now let's take a look at the chart.
Kinross Gold (KGC) scores a +90 using trade triangle technology. Notice the monthly buy signal in May at $19.64. From my own statistical research on trade triangle technology, a monthly buy triangle is right a stunning 80% of the time. You still have a chance to get in at about the monthly buy triangle level which is very exciting.
Notice the Fibonacci Retracement overlay. We had a perfect 61.8% retracement. The fact that the 61.8% level held is bullish.
Notice the gray horizontal line. This line is at $19.64. I expect a breakout to occur above this line within the next few trading days.
The ADX line is bullish.
The MACD just broke above the 0 line, it is bullish.
The big buy side volume today may mark the start of a new uptrend. If a breakout above the $19.64 level happens, keep an eye on the volume. We need big volume on the buy side else we will have another false breakout like the one we had at the end of May and starting of June. The volume failed to support the breakout and the stock quickly headed back down causing a false breakout. We need volume to continue to pick up on the upside, into the breakout above $19.64, to avoid a repeat.
My latest buy recommendation is gold miner Kinross Gold (KGC).
Kinross Gold (KGC) produced 527,000 ounces of gold in the first quarter, almost twice that of Yamana Gold (AUY). Kinross Gold (KGC) did this with an aggressive acquisition strategy that caused revenue to grow by 61% while lowering per once of gold cost from $472 to just $419.
With the Paracatu mine in Brazil expected to hit full capacity by the end of the 3rd quarter and the Kupol mine and Buckhorn mine opening, their produced gold ounces will continue to rapidly grow.
Now let's take a look at the chart.
Kinross Gold (KGC) scores a +90 using trade triangle technology. Notice the monthly buy signal in May at $19.64. From my own statistical research on trade triangle technology, a monthly buy triangle is right a stunning 80% of the time. You still have a chance to get in at about the monthly buy triangle level which is very exciting.
Notice the Fibonacci Retracement overlay. We had a perfect 61.8% retracement. The fact that the 61.8% level held is bullish.
Notice the gray horizontal line. This line is at $19.64. I expect a breakout to occur above this line within the next few trading days.
The ADX line is bullish.
The MACD just broke above the 0 line, it is bullish.
The big buy side volume today may mark the start of a new uptrend. If a breakout above the $19.64 level happens, keep an eye on the volume. We need big volume on the buy side else we will have another false breakout like the one we had at the end of May and starting of June. The volume failed to support the breakout and the stock quickly headed back down causing a false breakout. We need volume to continue to pick up on the upside, into the breakout above $19.64, to avoid a repeat.
My latest buy recommendation is gold miner Kinross Gold (KGC).
Kinross Gold (KGC) produced 527,000 ounces of gold in the first quarter, almost twice that of Yamana Gold (AUY). Kinross Gold (KGC) did this with an aggressive acquisition strategy that caused revenue to grow by 61% while lowering per once of gold cost from $472 to just $419.
With the Paracatu mine in Brazil expected to hit full capacity by the end of the 3rd quarter and the Kupol mine and Buckhorn mine opening, their produced gold ounces will continue to rapidly grow.
Now let's take a look at the chart.
Kinross Gold (KGC) scores a +90 using trade triangle technology. Notice the monthly buy signal in May at $19.64. From my own statistical research on trade triangle technology, a monthly buy triangle is right a stunning 80% of the time. You still have a chance to get in at about the monthly buy triangle level which is very exciting.
Notice the Fibonacci Retracement overlay. We had a perfect 61.8% retracement. The fact that the 61.8% level held is bullish.
Notice the gray horizontal line. This line is at $19.64. I expect a breakout to occur above this line within the next few trading days.
The ADX line is bullish.
The MACD just broke above the 0 line, it is bullish.
The big buy side volume today may mark the start of a new uptrend. If a breakout above the $19.64 level happens, keep an eye on the volume. We need big volume on the buy side else we will have another false breakout like the one we had at the end of May and starting of June. The volume failed to support the breakout and the stock quickly headed back down causing a false breakout. We need volume to continue to pick up on the upside, into the breakout above $19.64, to avoid a repeat.
Stocks Above I Currently Hold In My Own Trading Account: Long LIFE
Guerilla Trader Quote
“Large beasts of prey in the investment jungle (lions, tigers, leopards, and the like) often eat the smaller beasts such as monkeys. Most of us are market monkeys; we are often victims rather than victors.”
Copyright 2009-2011 GuerillaStockTrading.com All rights reserved. No part or article on this website may be copied or duplicated without written consent from GuerillaStockTrading.com and Confab Publishing. Disclaimer: This Web site is designed to provide accurate and authoritative information on the subject of personal finances. It is provided with the understanding that neither the author nor the publisher is engaged in rendering legal, accounting, or other professional services by providing this Web site. The authors and publisher shall not be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential or other damages. As each individual situation is unique, questions relevant to personal finances and specific to the individual should be addressed to an appropriate professional to ensure that the situation has been carefully and appropriately evaluated. This blog is for information and entertainment purposes only. Under no circumstances does this information represent a recommendation to buy or sell securities or any other type of investment instruments. See a licensed broker for investment advice.
Guerilla Stock Trading University