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Kinross Gold Corp., Saturday, March 4, 2017

Today I want to look at a another chart, this time of Kinross Gold Corp.

Orange picture with text about technical analysis of Kinross

As always I prefer to look at a weekly chart:

Weekly chart of Kinross Gold Corp since 2014 until present. The 50-week moving average is represented in blue and the 100-week in white. Straight ascending trend lines are also in white.

Figure 1. Weekly chart of Kinross Gold Corp since 2014 until present. The 50-week moving average is represented in blue and the 100-week in white. Straight ascending trend lines are also in white. Chart: FreeStockCharts

What we see in the chart is that prices were descending for the most part of 2014 and 2015, but that they then staged a comeback.

The first six months of 2016 prices were rising dramatically. At the bottom, Kinross stock sold for $1.50 and at the high it sold for 5.82. That equates to a gain of 444% if you caught it all.

Obviously, we could of course draw a similar pennant as we did in the gold and mining charts, but the information that we would get would be limited since the moves are so strong.

My odds favor a contact with the rising trend line and that we will then bounce off of that.

On the other hand there is nothing that guarantees higher prices. It is fully possible that we will break down from here.

If I were to put a percentage on my odds, I would say that there is a 65 percent chance of prices going higher and 35 percent chance of them going lower.

We will have to wait and see.

The post Kinross Gold Corp., Saturday, March 4, 2017 appeared first on LJ Nissen's blog.



This post first appeared on LJ Nissen Investments, please read the originial post: here

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Kinross Gold Corp., Saturday, March 4, 2017

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