The first to emerge from a 9-month cup-and-handle pattern is Gold Fields Ltd (GFI). The break beyond $12.63 hasn't cleared all trouble given reaction lows from early 2008 at $14.00 will continue to act as supply. The potential 1-year target is last October's highs at $18.22. I have a YourCall for a push to $18.19 with a stop at $11.69.
The second stock, Golden Star Resources (GSS) has advanced almost 100% from April lows so is perhaps in need of a consolidation period before pushing on. The Cup-and-Handle may make more sense as a "W" bottom but the prognosis going forward is the same. I have a loose YourCall entered with a Target of $4.25 but a broad stop at $1.69. It will be a slow burner.
The final stock of the three, Kinross Gold Corp (KGC) hasn't broken from its base and is still penned in by resistance at $19.49. I have not entered a YourCall on this but an Alert for a Price Cross of $19.49 should suffice.
Keep an eye on all three...
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts, and stock charts website
