Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Investing

John Feneck: Gold Stock FOMO Trade Trigger, Plus 9 Stocks to Watch

by March 15, 2024
March 15, 2024
John Feneck: Gold Stock FOMO Trade Trigger, Plus 9 Stocks to Watch

‘We’ve been calling for gold to be above US$2,000 (per ounce) for quite some time now. We’re there, and we think that once you get to US$2,200 it’s going to be kind of a FOMO trade in terms of some of these gold stocks,’ he said.

‘I think the downside risk is retesting that US$1,800 round number … (but) I just don’t think we’re going to get to the US$1,790, US$1,800 level,’ Feneck continued, adding that he’s confident the metal would hold if it did go there.

While the gold price is historically high, gold stocks aren’t performing as well as investors would like.

‘I can’t remember even looking at 2016 the disparity between the gold price and mining stocks,’ Feneck said at the Prospectors & Developers Association of Canada (PDAC) convention. He uses the Relative Strength Index (RSI) to evaluate companies, and said right now many gold stocks have RSIs between 27 and 35 — the 30 level is generally a time to buy.

‘Broadly for the (big-cap gold stocks) I like what i’m seeing. I can’t remember a quarter like this where everyone’s beating (when it comes to results) and yet the prices are so depressed,’ Feneck commented.

In terms of precious metals stocks he likes, he mentioned Guanajuato Silver Company (TSXV:GSVR,OTCQX:GSVRF), Coeur Mining (NYSE:CDE) and Hecla Mining (NYSE:HL), as well as Silver X Mining (TSXV:AGX,OTCQB:AGXPF) and Aftermath Silver (TSXV:AAG,OTCQX:AAGFF). Feneck is also interested in VR Resources (TSXV:VRR,OTCQB:VRRCF) on the copper side.

In closing, Feneck emphasized due diligence. ‘Make phone calls to companies right now. This is the time you want to do your homework. Get any questions answered about what you own and what you’re thinking about owning,’ he said.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
First Phase Drilling Successfully Completed at Abbotts North Project
next post
Lawmakers blast Biden Gaza port plan as political move to win back progressives

Related Posts

FPX Nickel and JOGMEC Initiate Exploration at the...

May 27, 2025

Antilles Gold Limited (ASX: AAU) – Trading Halt

April 26, 2024

Green River Gold Corp. Announces an Expansion into...

January 25, 2025

What Was the Highest Price for Gold? (Updated...

June 21, 2023

RK Lithium Project – Drilling Update Strong Li...

January 11, 2024

The United States Department of Defense Awards Multi-Million-Dollar...

November 30, 2023

Element 79 Gold Corp Strengthens Position in Peru,...

June 29, 2023

Finlay Minerals stakes the JJB Property – within...

April 23, 2025

6 Mining and Energy Stocks Make Top 10...

February 22, 2025

John Feneck: Gold, Silver, Copper and More —...

January 16, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Breakout Watch: One Stock in Each Sector to Watch Now

    • Small Caps Are Rotating In — Here’s Why It Matters

    • Want Faster, Lower Risk Trades? Use This Setup

    • The Seasonality Trend Driving XLK and XLI to New Highs

    • Copper Soars to All-time High as Trump Unveils 50 Percent Tariff on Imports

    • Apollo Silver; Right Assets, Right Management and Right Time

    Categories

    • Business (1,283)
    • Investing (2,658)
    • Politics (3,699)
    • Stocks (1,709)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved