At current levels I could see buying GG for a snap back to prev low retest and top of trend line for about a 10% move. Buying at or close to the low's here gives you a nice a nice R/R ratio.
NOTE - Goldcorp bounced/consolidated at almost each fib level previously ("1", "2", "3", ...) and at the lows I believe it would have a book value of less than 1.
NOTE 2 - earning coming out soon.
Comments
Jakk_Daws
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IMO - still some room to move, but I'd step out 1/2 or 1/3 here for sure and wait to get back in later. Currently at $30.50. 11% gain