Thursday, May 10, 2018 11:16:24 AM
Earlier today, leading gold miner, Randgold Resources Ltd (NASDAQ:GOLD), reported a 24.0 percent drop in Q1 profit. This news is sending the leading gold mining stock down by more than 7.0 percent to $76.45 a share. Traders should note that the stock is now trading below it's important 50-day moving average. This chart formation now puts the stock in a very weak technical position and indicates lower prices ahead. The next key support level for GOLD stock will be around the $71.00 level. This important support area is where the stock reversed higher back in December 2016. Often, a stock will be defended by the institutional crowd around these prior reversal levels.
Nicholas Santiago
InTheMoneyStocks
Recent GOLD News
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM
