Today I want to look at a another chart, this time of Kinross Gold Corp.
As always I prefer to look at a weekly chart:
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.