A look at Kinross Gold Corp monthly chart shows potential for some big upside. Solid volume coming in - supporting the impulse move, and making a case for a continued break out rally.
Remember the stocks that did well in 2008? It was the gold miners that were the big winners in times of fear, uncertainty and doubt. This is one of the only are negatively correlated sectors out there, and so a great way to diversify risk. With the tech and financial sector leading the current sell-off, its only a matter of time before the market starts to make big moves into safe haven markets.
Additionally, the sector is trading at a very nice discount from all time high, and present an attractive hedge against global economic slowdown, as well as the speculation that gold price will rise during this time, which i believe is coming soon.
If Gold can finally get the breakout of $1,300, we will see a massive re-evaluation in the top tier gold mining companies. It will happen quickly, and quietly, same as "08, so its definitely time to start mixing this sector into the portfolio, and KGC is a solid contender for that spot. Showing all the signs you want to see in terms of TA bottom, and I can see a potential 3x return coming, with a target price of $10 and $15.
Best of luck, hit thumbs up.
Remember the stocks that did well in 2008? It was the gold miners that were the big winners in times of fear, uncertainty and doubt. This is one of the only are negatively correlated sectors out there, and so a great way to diversify risk. With the tech and financial sector leading the current sell-off, its only a matter of time before the market starts to make big moves into safe haven markets.
Additionally, the sector is trading at a very nice discount from all time high, and present an attractive hedge against global economic slowdown, as well as the speculation that gold price will rise during this time, which i believe is coming soon.
If Gold can finally get the breakout of $1,300, we will see a massive re-evaluation in the top tier gold mining companies. It will happen quickly, and quietly, same as "08, so its definitely time to start mixing this sector into the portfolio, and KGC is a solid contender for that spot. Showing all the signs you want to see in terms of TA bottom, and I can see a potential 3x return coming, with a target price of $10 and $15.
Best of luck, hit thumbs up.
Comment:
On track here
GOLD price rising - despite fed rate hike last week. The market is not buying the fed narrative for raising rates. Bullish sign for gold