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How Giant Mining Stocks Are Moving: Technical Insights

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Giant miners

In this part of the series, we’ll analyze the performances of the giant mining stocks, including Royal Gold (RGLD), Goldcorp (GG), Barrick Gold (ABX), and Kinross Gold (KGC).

Among the four miners we’re covering, Goldcorp and Barrick have YTD (year-to-date) losses of 12.9% and 14.6%, respectively. Royal Gold and Kinross Gold have YTD gains of 32% and 22.8%, respectively. The Sprott Gold Miners, a mining-based fund, has a marginal YTD gain of 1.2%.

All four of the giant mining stocks that we’ve selected have 30-day trailing losses due to the continued downward price movement in precious metals.

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Moving average indicators

The four miners that we’re discussing are currently trading below their longer-term 100-day moving averages and below their shorter-term 20-day moving averages. SGDM is also trading below its 20-day and 100-day moving averages.

A considerable premium above the 20-day and 100-day moving averages could suggest a potential fall in price. A good discount indicates a probable rise in price.

All four miners’ target prices are above their current trading prices, which indicates a potential increase in price.

RSI level

The RSI levels for RGLD, GG, ABX, and KGC are 42.5, 13.6, 43.2, and 22.4, respectively. An RSI level below 30 is indicative of a potential scale in price, while an RSI higher than 70 suggests a possible fall in price. GDX’s RSI level is 49.2.

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