Kinross Gold: Possible falling wedge reversal (NYSE:KGC)

by Josh Kinross Gold Corp. ($KGC) was last at $4.80 on a volume of 9,735,800 shares, putting the miner on track for a possible reversal on heavier than average volume.

Shares have been in a falling wedge pattern, which is a bullish reversal pattern. The stock is up $.26 (+5.7%) after trading up through the 50 day moving average. The 200 day moving average is overhead at $5.22 (+8.8%) higher. A test of that key moving average should provide some clarity to traders waiting to see if the mining sector has some legs to run or it’s simply retesting resistance in a downtrend.

52 Week Range $4.23-$9.91 Market Cap 5,465,586,103 Average Volume 9,370,905 Dividend Yield 0.00% Institutional Ownership 72.90% Insider Ownership: 0.00% Percentage of Float Short 0.60% Beta 0.66

Kinross Gold Corporation is a gold mining company. The Company’s mines and projects are in Brazil, Canada, Chile, Ecuador, Ghana, Mauritania, Russia and the United States.

Articles