Thursday, May 3, 2007

Watch closely CDE

Coeur d'Alene Mines Corporation, through its subsidiaries, engages in the exploration and development of mineral properties principally in the United States, South America, Australia, and Africa. The company primarily explores for silver, gold, lead, and zinc deposits.

Shares are traded very closely at support level $3.8. Line has been created 1 year ago. Crossing would be strong sell signal. But also crossover throught 6month's resistance line would signal buy. From macroeconomics perspective shares could be supported by weak US dollar and rising gold prices.

I'll enter position with limit orders either to long or to short position based on crossover.


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