Like many other stocks in gold mining sector, I believe KGC is now ready to explode MUCH higher compared to its current trading level. Daily chart shows that the stock has been building energy: bullish obv showing accumulation, bullish divergence on RSI and PPO, and the stock is testing its 50 day moving average.
Central bank decision will decide its near term direction. This week we have FED+ECB+BOJ. Will update on how things go. However I believe an impulsive breakthrough of the 50dma will be a highly reliable signal confirming that the stock is going to breakout.
Central bank decision will decide its near term direction. This week we have FED+ECB+BOJ. Will update on how things go. However I believe an impulsive breakthrough of the 50dma will be a highly reliable signal confirming that the stock is going to breakout.