KGCIdea for upcoming weeks, if stockmarket keeps tanking, precious metal related companies could do really well.
KGC trade ideas
Kinross Long SwingLooking at the monthly time stamp for KGC we can see that there is a potential pattern formation indicated by the black boxes on the candle stick chart. However to back this up further looking at the monthly rsi levels we can see a pattern forming indicated by the red boxes on the rsi chart. On the initial wave a bull run with a high of nearly 30 was achieved. Im not anticipating a run quite that high, if at all, however I believe a great profit taking area would be around $5.5 and $7.25 respectively. When the moment comes it will be easier to see where the momentum is going and if profits should be reinvested at varying buying levels if a pullback were to occur.
Kinross Gold (Longterm) good play short or medium termThis one is just kinda simple
On the 1day chart and even 1 week chart the squeeze keeps getting closer and closer to a median for this consolidation period. Kinross has been facing lots of selling pressure over the past years now, but noticing where it stands in comparison to its competitors and how they are working to maximize efficiency as gold deposits in the world eventually get smaller yields for processing far larger amounts of dirt. Given the position of the economy as a whole and how overvalue so many sectors. In my opinion it would be wise to jump on board KGC while its still so undervalued. With all time highs of around $25 and the going price right now at around $3.6, its beyond cheap. I also would like to point out looking at the 20 year chart that Kinross tends to do well while the economy is taking a beating. This a longterm hold for me, however, I will take profits with any sudden increase around the $5 mark.
KGC ready to explodeLike many other stocks in gold mining sector, I believe KGC is now ready to explode MUCH higher compared to its current trading level. Daily chart shows that the stock has been building energy: bullish obv showing accumulation, bullish divergence on RSI and PPO, and the stock is testing its 50 day moving average.
Central bank decision will decide its near term direction. This week we have FED+ECB+BOJ. Will update on how things go. However I believe an impulsive breakthrough of the 50dma will be a highly reliable signal confirming that the stock is going to breakout.
KGC could go either way, betting goes longKGC formed a H&S (dominate pattern) however it has also formed a double bottom. the H&S is ever so slightly trending up. Always keep with the trend.
Also, if you believe gold is undergoing a bottoming out for a potential breakout this year, this is an excellent stock to follow. This is from their most recent earning report:
"The price of gold is the largest single factor in determining profitability and cash flow from operations, therefore, the financial performance of the Company has been, and is expected to continue to be, closely linked to the price of gold. "
Possible build-up to breakout, keep an eye on it!KGC has recently recovered from a massive selloff but is showing signs of an uptrend. It has been following the 13EMA on a rise for the past couple of days and it recently retested it today and bounced back up. Although it shows as a red day, the close for today was higher than yesterday and thus exhibiting higher lows and a possible up-trend. My recommendation is not to buy s of this moment because there was an increase in the selloff of the stock but I would keep a close eye on it and if it breaks out of the ascending triangle then this would be a buy point. The MACD is also showing that the stock is trading on the bullish side and it is expected to keep on rising as it shows not current sign of descent. I am a new trader and looking to learn more, so any constructive criticism is welcomed!
Kinross Gold LONG! Or who wants to 625% profits?The commodity cycle turned. The company's shares turned to a long position. The company's performance improves, production increases, profit increases. However, the company still cheap!
Enterprise Value/EBITDA 4.7
Debt/EBITDA 1
Buy $4, objective $25. That is 625% of the profits.
I've confirmed to my forecast, my purchase. I bought shares and I will keep them to $25 minimum. This is a long term position for several years. Maybe the price will drop to 3, 2 dollars, this is a good chance buy your way back and earn 1000%
The cancellation scenario is not! No stops! Minimum goal of $25!
p.s. Stock - is not a line in the terminal, but a share in a real company! There will always be people who will want this share to increase!
Kinross Gold Corp - LongKinross
"KGC" NYSE
"K" TSX
Kinross has worked hard to restore its balance sheet after the disastrous 2010 purchase of Red Back Mining.
What happened?
Kinross paid US$7 billion for Red Back shortly before gold topped out above US$1,900 per ounce. The subsequent crash in gold prices and disappointing production from core assets meant Kinross had to write down most of the value of the Red Back deal.
Management has done a good job of reducing the debt load in recent years, and Kinross is now on solid footing. The company finished Q2 2016 with just US$1.7 billion in long-term debt and had US$968 million in cash and cash equivalents.
The rebound in gold this year has helped boost margins, and Kinross even generated US$202 million in free cash flow in the second quarter.
With the balance sheet under control, Kinross is now focusing on growth. The company purchased assets in Nevada earlier this year and recently unveiled plans to invest US$300 million in its Tasiast project in Mauritania.
Tasiast was supposed to be the crown jewel of the Red Back deal, but the site has never lived up to expectations. That might finally change.
The new investment in the mine is expected to boost production by 90% and help drive down all-in sustaining costs (AISC) to the point where the facility can deliver significant margins at current prices.
Kinross produced 671,000 gold equivalent ounces in Q2 at AISC of US$988 per ounce. Guidance for 2016 remains 2.7-2.9 million ounces at AISC of US$890-990 per ounce.
KGC - 4hrWhile the blue count is my primary, price structure still allows the yellow alt Leading Diagonal (3-wave moves off the low) is viable even as low as 3.02. I've annotated the alt 2 as an a-b-c flat, but variation is certainly possible in corrective structures. A significant breakout on volume, confirmed by MACD making new highs, and I will take the yellow alternative off the chart.
