Coeur Mining Inc. ( CDE) is a name that is well known to long-time precious metals bulls. (The stock traded in the $300 area on a split-adjusted basis in the late 1980s.) CDE has been making a base pattern the past year and now prices are finally breaking out on the topside.
Let's check the charts and indicators.
In the daily bar chart of CDE, below, I can see that the shares rallied to the $4.25 area a number of times over the past year. This time prices are not retreating. CDE has made a new high for the move up and the slope of the 50-day and the 200-day moving average lines have turned positive.
The trading volume has been more active since early March and the daily On-Balance-Volume (OBV) line has turned upwards telling me that buyers of CDE are being more aggressive than sellers. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero line.
In the weekly Japanese candlestick chart of CDE, below, I see a positive-looking setup. Prices have based after a long decline. The shares are now trading above a rising 40-week moving average line.
The weekly OBV made a long decline but its recent strength looks like a true change of trend. The MACD oscillator is finally above the zero line in buy territory.
In the daily Point and Figure chart of CDE, below, I can see that the software is projecting an upside price target in the $6.75 area. Not a small percentage gain if it works out.
In this weekly Point and Figure chart of CDE, below, I used a five-box reversal filter to get to a $9.75 price target.
Bottom-line strategy: Aggressive traders could go long CDE at current levels and on any shallow dip. Risk to $3.75 for now.