CNMC

20th November, 2016, 12:37 PM
CNMC Nov 2016
CNMC Nov 2016

Gold had a big spike on the day of the US election but once news settled Gold started its decline. Reason could be many, like market settling down, USD up due to trump spending on infrastructure and interest up potentially moving up in Dec

Cnmc a gold mining stock could also offer with the lower gold prices. It is currently sitting on the lower downtrend line which we drew . IF gold continues to fall we could see that downtrend line of 0.45 cents being broken and it might take us down to the 200m which is at 0.38 cents. But if gold rebounds then it could potentially rebound to 50 cents. Which side are you hoping for?

We’re slightly more on the bearish side.

Yours

Humbly

CNMC

6th October, 2016, 2:39 PM
CNMC Oct 2016
CNMC Oct 2016

 

One of the hottest stock in the market CNMC had a gap down on wednesday as gold reached a 3 months low. That gap down might have scare traders out as people were rushing for the exit.

From the chart, we can see that it has broken the uptrend line after the gap down and is now currently below the 50ma too. We’re not optimistic on CNMC for now and might see a pullback to 0.50 the horizontal support. From there we shall see where gold price is and if 50 cents holds too.

Yours

Humbly

CNMC GOLDMINE

25th August, 2016, 2:17 PM
Cnmc Goldmine 24 Aug 2016
Cnmc Goldmine 24 Aug 2016

CNMC Goldmine has hit the horizontal  resistance at $0.61 yesterday and today again which was also the previous high made on 7 july , with the recent gold price retracing from its recent rally , Cnmc Goldmine may also be resting a bit having test the $0.61 resistance level again .

In fact a message was sent to our clients on 3rd August to watch it for further upside at $0.53 and it hit our targeted upside of $0.595-$0.61 yesterday and today. Pretty decent in our humble opinion.

Cnmc Image.jpg

Currently We think Cnmc Goldmine may pullback to its previous support levels of $0.525 -$0.55, since gold has been pulling back .

However if it can break  above the $0.61 resistance, this may bring the stock to its all time high of $0.665 back in 2011 .

Yours

Humbly