LHG unknown

analyst jody ellis lhg sept target $1.25

  1. 729 Posts.
    In this weeks Sanfords "Chart Chatter"

    Key points:

    # Currently every dollar per Oz. over $410US is worth about $0.01 over $1.00 for LHG's share price.

    # An uncertain third quarter with US elections is certain to hold gold prices up.

    # LHG traditionally performs well in the last half of the year.

    #LHG has moved up through the consumer resistance point of $1.00 in the last week and could well find support at this level.

    #Fibonacci retracements have worked well historically with LHG and we have recently had a 50% retracement from the April 04 high. This high was directly related to the surge in the gold commodity price to $430 US (substantially above the $410 US current operating cost for LHG). LHG tested the $1.25 barrier with this gold price hike.

    This $1.25 level is a reasonable price target prior to September.

 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.