We have had bullish and bearish outlooks on this stock, neither were necessarily correct. It is very elusive so here is another go at it;

From the 2001 lows in the precious metals, this stock has risen like a meteor  in what any reasonable person eyeballing this chart would call a 3-wave move. Which either means that it is simple a large , corrective B-wave and we will continue down, or, that the 5-wave up sequence is not yet complete and we are just now starting the 5th wave which targets $60 or higher. So far the low point of wave 4 touches the high point of wave one, so there is no overlap. Un till that does happen, this bullish count remains valid and even if it does, a diagonal could still be a possibility.  Alternation is lacking , perhaps, but that is in any case not an absolute requirement. But even so wave 2 is steep zig-zag down whereas wave 4 is more like a sideways flat.

So, to repeat, this is either a wave 4, a-b-c (with 3 subsets of a-b-c’s within it, remember a c always has to have 5 waves) and we are on the way up, or will get bigger and we are presently in wave 4 of c. Overlap for that occurs at $34. Presently the rebound from the recent lows is very decidedly itself a symmetric a-b-c , as is the case with virtually all the gold mining stocks, but this can change. In short the bullish scenario is negated with a drop below $18 and, more or less, confirmed with a rise above $34. This stock , by the way, does not suffer from the usual stock specific idiosyncrasies like most minors, it just collects royalties.

See previous blogs for earlier bullish calls.

Again counting is not my forte’ , but this one is relatively simple. Notice that both charts are essentially identical in structure, but the scale is different. This is what is known as a “fractal” best explained by asking how long the shoreline is, depends on the measuring stick you use. Apart from that this stock confirms so to speak what we found with ABX in the previous blog. A small 5th wave thrust from what appears to be a triangle is still required to complete the pattern. In this case a stop at around $29 is advisable.

See also previous 2 blogs. First recommended at $27.70. We are now approaching the target of $36 as expected in the previous update and are up about 30%. We would sell now. The $36 target represents a retracement of about 60+% of the $20 drop, and also coincides with the top chanel parallel line. We have no idea what to make of these ups and downs but given that the RSI is, and has been for some time, overbought the next big move could well be down.

The  usual then and now. Please see the blog as well.  Target under either a bear or bull case was $32.50 minimum from the price then of $27.70. We closed at $33.79 after a high above $34. That is getting close to 21%. The RSI is already in overbought territory but we may still go a little higher as trend line resistance is at about $36. All we need is a little more talk of quantitative easing. Up to you (as always).