Kinross Gold (KGC) ($9.77 vs. $9.66 on Sept. 10): Has a price pattern most similar to Comex gold by trading between its 200-day SMA at $9.18 and its 50-day SMA at $9.99 after a 12 month decline of 16.0%. The stock has a reasonable 12 month trailing P/E at 12.9. My monthly value level is $8.57 with a weekly pivot at $9.52 and semiannual risky level at $14.93.
Newmont Mining (NEM) ($44.29 vs. $51.69 on Sept. 10): Has a price pattern showing the stock trading near a multi-year low and a potential triple bottom with lows of $43.23 on May 16, $42.95 on July 27 and $43.51 on Dec. 13. The stock is well below its 200-day SMA at $49.64 after a 12 month decline of 26.1%. The stock has a reasonable 12 month trailing P/E at 12.0. My weekly value level is $39.33 with a monthly risky level at $47.23.
At the time of publication the author held no positions in any of the stocks mentioned.
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