
What Technical Indicators Are Saying about Miners
By Meera ShawnUpdated
Technical details
The VanEck Vectors Gold Miners (GDX) and the iShares MSCI Global Gold Min (RING) saw an up day on Friday due to the price revival in precious metals. The funds rose 1% and 0.62%, respectively.
Call implied volatility and RSI level
As of October 27, 2017, First Majestic (AG), Franco-Nevada (FNV), Coeur Mining (CDE), and Harmony Gold (HMY) had implied volatility readings of 54.6%, 25.5%, 46.7%, and 53.3%, respectively. These stocks’ RSI levels have recovered recently. AG, FNV, CDE, and HMY have RSI scores of 24.5, 47.8, 12.3, and 31.1, respectively.
During the past 30 trading days, only Franco-Nevada has a positive return of 1.3%. First Majestic, Coeur Mining, and Harmony have a loss of 5.5%, 17%, and 3.9%, respectively, during the same timeframe. The past month has also been negative for precious metals, as the dollar has been rising and news of a possible interest rate hike has caught investors’ attention.