KGC testing 50-day MA

I have taken KGC as an example, but other mining stocks are in a similar situation. Speculative money is fast exiting the sector, but the sell off has pushed prices down to the 50-day MA. Looking at the chart for KGC, the chief difference between now, and the previous 50-day MA test, is the state of the MACD. Short term, expect more downside - but watch how the MACD behaves, if it starts to indicate a potential bullish cross, then KGC will be a good intermediate term play (3 weeks - 6 months).

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