Coeur Mining Inc. (CDE) - Bullish Rectangle Continuation PatternAnalysis:
Chart Pattern:
Coeur Mining Inc. (CDE) is currently forming a Bullish Rectangle Continuation pattern, indicating potential for an upward breakout.
Support and Resistance: The stock is consolidating between defined support and resistance levels.
Breakout Potential: A breakout above the resistance level could lead to a significant upward movement.
Target Price: The target price can be estimated based on the height of the rectangle.
Stop-Loss: Set a stop-loss just below the support level to manage risk.
Fundamental Overview:
Revenue (TTM): $846.97M
Net Income: -$108.14M
Total Debt: $593.83M
Current Ratio: 1.00
Conclusion:
The Bullish Rectangle Continuation pattern suggests a potential upward breakout, making Coeur Mining Inc. a promising candidate for short-term gains. However, investors should consider the company's current financial challenges and set appropriate risk management measures.
Investment Note:
Trading stocks inherently involves risks. Carefully consider your financial situation and investment goals before making decisions.
CDE
SILVER TECHNICAL SETUP - LONGWith substantial weakness in the dollar, precious metals and the USD currency index have a strong inverse correlation.
Silver has broken out from a bullish falling wedge pattern, which it has back tested and then broken out of the back test. We can also see bullish divergence for the MACd technical indicator on the 8H for Silver spot too.
The attached chart shows a bullish wedge patter having being broken out of, we will look for a close above the purple line to confirm a breakout and enter a long position.
Keep in mind the whipsaw effect we always see due to earnings, exercise caution.
GPL Long hereGPL and other miners are breaking out. GPL just broke frmo the trend line and is above the supporting MAs. Many others in the sector have already broke out, check CDE which I bought last week.
$CDE Potential Long Term Investment $CDE is the world's 9th largest silver producer and is breaking a Long Term downtrend from the 2000s with a potential target of around $50
With a beautiful back test to the tread line after breaking out, this along with other silver commodity stocks should be looking very positive
I think either this or $AGQ or $SLV or frankly any silver/gold stocks can be good hedges to hold in your long term investment account.
Keep in mind I am not a financial advisor and this information is strictly for educational purposes only.
Major bull flag in PlatinumPlatinum is breaking out of a 5-6 week bull flag after tagging its 50 day moving average and reversing from major structure. Precious metals seem to be breaking out in general, but I particularly like the pattern in platinum. I am long all three (gold, silver and platinum).
GPL Long ideaGPL is a silver miner. It looks to be moving higher out of a downtrend. I think its fairly obvious being above the 200sma. Good buy here.
CDE - attractive entryNYSE:CDE is one of the most volatile ideas in the gold mining space. So if enetered correctly it offers relatively quick and attractive rewards.
Currently idea is retesting major support level, through which it broken up in early November. And if uptrend is to continue in this miner, should not go much lower than current spot.
I am entering with idea to hold it as potential long term holding.
CDE - move to 4$ in playYesterday NYSE:CDE broke through bearish flag and is now targeting region at around 4$, based on the symmetry and current chart structure. There it should find strong support, for the move higher.
Potrential trade: Sell short @ 4.60-4.70 region
Target: 4-4.15
S top-loss: 4.90
Risk/reward: 2 to 1 or 3 to 1 based on the entries, which is reasonable.
LONG CDE - Company just broke out of a 8 year down trendCDE is a great buy here as the stock has broken out of a 8 year down trend starting in 2011. CDE has lagged other silver miners slightly during these recent silver breakout ().
They are optimizing recovery and costs at current claims and have a great deal of exploration and potential for new claims in the works. They have suffered from aggressive short selling as of late - see: fintel.io , but this should just fuel a spike in the stock as Silver moves to its next resistance point of $17.30. Technically resistance at $5.20, then $5.75.
Coeur Mining: renwed uptrendCDE has ended the steady and rather drawnout counter trend phase since mid-2016 with the break above ~9.05. A strong upmove towards minimally 11.75 (1st projection) is extremely likely. Secondary targets come in at 14.30 (3-4 months) while the long-term forecasts suggest levels well above 17.50 (12-months+). Maintain initial stops below 8.25.
TRADE IDEA: CDE COVERED CALL/NAKED SHORT PUTCovered Call Metrics:
Buy 100 shares stock at 13.68
Sell Oct 21st 14 call
Whole Package: 12.36 db
Max Profit: $164 (if called away at $14)
ROC: 13.3%
Alternative:
Sell Oct 21st 12 put
Probability of Profit: 71%
Max Profit: $70 (if filled at the mid price)
Max Loss: $1140 (if you do nothing and stock goes to $0 by expiration)
Notes: The short put play would be either a naked premium selling play or a precursor to initiating a covered call. For the former, look to roll down and out for duration and credit when the price of the short put equals 2x what you received in credit; otherwise, leave the option alone and look to take off in profit at 50% max or above. For the latter, take the assignment at 12 or roll the put down and out for duration and credit to shoot for assignment at a more favorable price. Given the underlying's trajectory and the amount of "air below", I'd probably opt for just selling the short put here. A lot of miners are looking somewhat weak here ... .
Silver Likely to See a Pullback Near-TermSilver has seen an unexpected rally to most and continues to show strength as holdings of silver-backed ETFs reach all-time highs. Since posting "Potential Inflection in SLV: Price Action and Options," (under CommoditiesTrader) SLV is up almost 22 percent.
However, near-term there will be a correction to work off the overbought conditions.
The RSI was quite elevated at 77, while the z-score hit a near-term high of 2.9
The +/-DMI is showing that price action still remains positive but the ADX is beginning to tick lower.
The stochastic indicator is currently over bought at 87.51/93.26
Of course, precious metals will move with headlines. Given the sharp two-day decline, the SLV looks promising between $15.90 and $15.60. If traders sell through the secondary uptrend near $15.60, we could see further selling to $15.
It's important to remember the risk is dynamic. Traders will flock to the safe-haven aspect of silver if more troubling news surface about European banks, Brexit and, simply, slowing growth.
A correction will only be healthy going forward. The weekly chart shows at $17 is a tough nut to crack - only seeing one close above this level since January '15.
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