NEW BULLISH Plays
Gold Fields Ltd - GFI - close: 13.78 change: +0.19 stop: 12.99
Why We Like It:
Gold mining stocks are beginning to rebound after a two-week correction. GFI has clearly defined support near $13.00. This bounce looks like an entry point for a stock (and a group) that broke out form a major consolidation in September.
I'm suggesting bullish positions now. Our first target is $15.75. The Point & Figure chart is very bullish with a $21 target.
FYI: An alternative to a single company stock like GFI would be the GDX, the gold miner ETF.
Entry on September 30 at $13.78
Change since picked: + 0.00
Earnings Date 10/29/09 (unconfirmed)
Average Daily Volume: 7.7 million
Listed on September 30, 2009