GG peaked at $47 back in September and worked its way lower until June. The stock seems to be forming an inverse H&S (blue) since May. I have noted the head (H) and the shoulders (s) to make the pattern more visible. GG’s neckline resistance is at the $30 level (navy). GG would confirm the pattern by breaking up through the $30 neckline, preferably on an increase in volume, and the stock should move higher from there.
Goldcorp Inc. engages in the acquisition, development, exploration, and operation of precious metal properties. It primarily explores gold, silver, copper, lead, and zinc. The company’s principal mining properties include Red Lake, Porcupine, and Musselwhite gold mines in Canada; Peñasquito gold/silver/lead/zinc mine, and Los Filos and El Sauzal gold mines in Mexico; Marlin gold/silver mine in… Continue Reading »