Coeur Mining, Inc. : The USD 13.1 support is in danger
Entry price | Target | Stop-loss | Potential |
---|
US$13.26 |
US$12.2 |
US$13.51 |
+7.99% |
---|
The breakdown of the support could lead to a further decline.
Regarding company’s fundamentals, we can note their major weaknesses. The company is overvalued with a PER for 2013 of 22.5x. Otherwise analysts have, since the beginning of the year, downgraded their forecasts for earnings per share and revenue.
Technically, prices are close to a turning point : in fact, the breakdown of the USD 13.1 support would be a strong sell signal for investors. The break of this level would become gloomier the future of the stock.
Therefore, investors can take a short position after the breakdown of the support in closing price. The price target is set at USD 12.2. A stop loss order will be placed above the USD 13.2, threshold that would invalidate the strategy.
The content herein constitutes a general investment recommendation, prepared in accordance with provisions aimed at preventing market abuse by Surperformance, the publisher of MarketScreener.com. More specifically, this recommendation is based on factual elements and expresses a sincere, complete, and balanced opinion. It relies on internal or external data, considered reliable as of the date of their release. Nevertheless, this information, and the resulting recommendation, may contain inaccuracies, errors, or omissions, for which Surperformance cannot be held responsible. This recommendation, which in no way constitutes investment advice, may not be suitable for all investor profiles. The reader acknowledges and accepts that any investment in a financial instrument involves risks, for which they assume full responsibility, without recourse against Surperformance. Surperformance commits to disclosing any conflict of interest that may affect the objectivity of its recommendations.