Coeur Mining (CDE) is a silver miner that attracted a lot of investor attention back in 1980 when the Hunt Brothers tried to corner the silver market. Today the company's Silvertip Project seems to be attracting investor interest.
This silver-zinc-lead development project is located in northern British Columbia, Canada just south of the Yukon border. Media reports suggest that Silvertip is one of the highest-grade silver-zinc-lead operations in the world and sits within a highly prospective land package.
I am no geologist so let's check out the charts and indicators.
In this daily bar chart of CDE, below, I can see a bottoming pattern from April. Prices made lows in July and September. Rallies have stalled right around $4.40 or so and a strong close above the highs of June, November and January on strong volume will be a clear upside breakout, in my opinion. CDE already trades above the rising 50-day moving average line and the bottoming 200-day moving average line.
The daily On-Balance-Volume (OBV) line shows improvement from September as traders have become more aggressive buyers of CDE. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line but has crossed to the downside for a take profit sell signal.