Thoughts on Goldcorp

Loading...
Loading...
After quite the impulsive move up off the 32 level Goldcorp - ticker $GG - has stopped to catch its breath and is sporting quite the nice looking flag formation. We could violate the lower bound of the channel to se up a small double bottom inside the channel. Need to see that low of Oct 15 hold.




As an aside the larger double bottom off $32 with a midpoint of $41 carries a target of $50 on it. This flag if broken to the upside carries a target of, depending on breakout of $61, which if you peek at a longer term chart would make new highs. Very bullish longer term!



Posted In: Trading Ideas
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...