Coeur Mining Is Making a Comeback

Let's take a look at the charts and indicators to see what's attracting investors.

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.  

 

 

In this weekly Japanese candlestick chart of CDE, below, I see some positive clues. Prices are trading above the bottoming 40-week moving average line. The weekly OBV line has been in a longer-term decline that mirrors the price decline from early 2021. Recently the OBV line has shown us some "light at the end of the tunnel". The weekly MACD oscillator is now crossing above the zero line for an outright buy signal. 

 

 

 

In this monthly Japanese candlestick chart of CDE, below, I can see how investors have supported the stock price in the $2 area going back to 2016. A monthly close above $13 will be a major upside breakout. 

 

 

In this daily Point and Figure chart of CDE, below, I used a five box reversal filter. Here the software projects the $4.47 area as a possible price target. 

 

 

 

 

In this weekly Point and Figure chart of CDE, below, I used a 10 box reversal filter. Here the software projects a $14 price target. In our monthly candlestick chart , above, a breakout over $13 is key.  

 

 

 

Bottom line strategy: Traders who can afford to risk to $3 on CDE could be buyers at current levels. 

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