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

Top 11 Battery Metals Stocks on the TSX...

August 3, 2023

What are Silver Futures? (Updated 2023)

September 1, 2023

Noble Minerals Plans to Drill in proximity to...

May 28, 2024

How Will the Israel-Hamas War Affect the Markets?

October 20, 2023

Christopher Aaron: Key Ratio Now in Gold’s Favor,...

April 8, 2025

Cleo’s Ovarian Cancer Blood Test Outperforms Current Clinical...

May 29, 2024

Adrian Day: Gold Stocks More Undervalued Than Ever,...

January 30, 2024

pH7 Receives BC Government Funding for Critical Metals...

March 29, 2024

Amgen, Merck and Pfizer Release Latest Quarterly Earnings,...

February 5, 2025

Oil Markets Buckle Under Tariff Pressure, Recession Fears...

April 9, 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

    • Fed Watch: Key Bullish Patterns in the S&P 500, Utilities, and Crypto

    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

    • Brunswick Exploration Announces Brokered Private Placement for Gross Proceeds of up to C$2.5 Million, with a Lead Order from a Strategic Investor

    • Drill Contract Awarded for Elizabeth Hill. Technical Visit Completed to Define Drill Targets

    • $2.6M Placement and SPP to fast-track China entry and sales

    • NorthStar Gaming Announces Receipt of Management Cease Trade Order

    Categories

    • Business (1,183)
    • Investing (2,407)
    • Politics (3,699)
    • Stocks (1,553)
    • 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