Craton
Mostly passive, contrarian.
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The commodity cycle, Au breaking support, has impacted the SP
EVN - Evolution Mining
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Craton
Mostly passive, contrarian.
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Assets sales, AU price dropping, exploration upside, SP consolidating and plenty of interest in this stock sees it on my watchlist.
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EVN forming a bull flag with price currently holding support at 3.25. Entry here would be 3.31 with an iSL of 3.24. Due to current market conditions, selling into old highs makes sense. Target range = 3.52 - 3.61. Low side of target range offers a minimum 3:1 reward/risk ratio.
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Went long on EVN at the close on Thursday. Weekly system that had a buy signal on Thursday and I jumped the gun a bit, signal was disabled by Friday's selloff.
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Pop, pop. Two days and we are right up near the low side of the initial target. 0.005c short though. 
I would expect to see some consolidation here. Supply entering from punters wanting to offload, who got caught holding the bag from June/July earlier this year.
I would expect to see some consolidation here. Supply entering from punters wanting to offload, who got caught holding the bag from June/July earlier this year.
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...and there we have it, $3.52 target hit intraday.
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Possibly a few higher targets to go if/when it breaks potential resistance around the $3.60 area.
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Porper
Ralph Nelson Elliott
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NCM looking good on this daily chart. Weekly still messy...stuck in a wide range. A retest of new support maybe for a buying opportunity.
I hold EVN.
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Yes, playing by the rules so far. First of my targets reached today, hopefully more to go.
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Zaxon
The voice of reason
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Profit is down
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Yep, EVN continued higher and hit the equal move (100%) target and significant round number $4.00 (in Boggo's chart).
Since then price has gone down and I notice that it's following EW theory and made a nice symmetrical 3 wave abc move which has ended right in the fib 50-61.8 buy zone (green box).
This setup is an aggressive gamblers only type reversal, but the price of gold went up significantly on Friday. I would expect another up day on Monday's open.
Since then price has gone down and I notice that it's following EW theory and made a nice symmetrical 3 wave abc move which has ended right in the fib 50-61.8 buy zone (green box).
This setup is an aggressive gamblers only type reversal, but the price of gold went up significantly on Friday. I would expect another up day on Monday's open.
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EVN on technical bid watch
friday saw two significant rotation ratio hit and thus far price is holding above both levels (fractional diff between the two) the daily 9rsi is also on a divergence, we'll need to see some constructive bid regardless of this mornings rip in gold, independent of news if the stock can climb once the immediacy and idiocy of news and news makers has subsided the stock should hold its own, at least we have clearly defined levels to work off
friday saw two significant rotation ratio hit and thus far price is holding above both levels (fractional diff between the two) the daily 9rsi is also on a divergence, we'll need to see some constructive bid regardless of this mornings rip in gold, independent of news if the stock can climb once the immediacy and idiocy of news and news makers has subsided the stock should hold its own, at least we have clearly defined levels to work off
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Jumped in a bit early on my last attempt (post #24 above) at this stock and got stopped out.
New Amibroker signal on the break of 4.18 yesterday so back in on the dip today.
Looking at the weekly EW chart for potential targets. Let's see how this pans out
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New Amibroker signal on the break of 4.18 yesterday so back in on the dip today.
Looking at the weekly EW chart for potential targets. Let's see how this pans out
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Dona Ferentes
Abrió la caja, vio al gatito, y sonrió
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a bit of diversification of resources has helped EVN
EVN has six operational mines, and should produce between 725,000 and 775,000 oz of gold in 2020. Average received price was $2091/oz in Q4 2019. It is the 3rd biggest cap producer in Australia, behind Newcrest and Northern Star.
fell 6% on the news
EVN has six operational mines, and should produce between 725,000 and 775,000 oz of gold in 2020. Average received price was $2091/oz in Q4 2019. It is the 3rd biggest cap producer in Australia, behind Newcrest and Northern Star.
Dona Ferentes
Abrió la caja, vio al gatito, y sonrió
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EVN half yearly results :
Revenue up 20%. EBITDA up 23%
Stat profit up 60%
15 % increase in in dividends.
And up despite falls in gold and increase in AUD vs USD overnight.
Revenue up 20%. EBITDA up 23%
Stat profit up 60%
15 % increase in in dividends.
And up despite falls in gold and increase in AUD vs USD overnight.
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In the infamous words of Whitlam, "it's time."
(Actually it was time a good time to pick up EVN in mid-December when all the fundamentals were lining up.)
And knife catchers had great buying opportunities in mid-March.
I was waiting for the dust to settle on potential mine closures or disruptions due to COVID-19 effects before diving in to more gold, and I think we are now on the money.
Aside from that, EVN's March quarter results will be out on April 23rd, and I am punting on a bounce.
So, those wanting to get onto a gold producer with heaps of upside potential, look at this:
EVN's dividend policy is to payout 50% of free cash flow, which is a bonus.
Given EVN has an AISC under AU$1000, and POG has been regularly trading above AU$2500 since end-February, strong margins are being achieved.
EVN's purchase of Red Lake looked like it was going to drag down profits, however, as POG clears US$1700/oz it's possible current output ill be near break-even.
Currently EVN is delivering about 15% of total production into out of the money hedges: as at 31 December 2019 some 350,000oz was hedged at an average price of $1,860/oz with quarterly deliveries through to June 2023.
Anyway, worth looking at for those wondering about yield and medium term investment potential.
(Actually it was time a good time to pick up EVN in mid-December when all the fundamentals were lining up.)
And knife catchers had great buying opportunities in mid-March.
I was waiting for the dust to settle on potential mine closures or disruptions due to COVID-19 effects before diving in to more gold, and I think we are now on the money.
Aside from that, EVN's March quarter results will be out on April 23rd, and I am punting on a bounce.
So, those wanting to get onto a gold producer with heaps of upside potential, look at this:
EVN's dividend policy is to payout 50% of free cash flow, which is a bonus.
Given EVN has an AISC under AU$1000, and POG has been regularly trading above AU$2500 since end-February, strong margins are being achieved.
EVN's purchase of Red Lake looked like it was going to drag down profits, however, as POG clears US$1700/oz it's possible current output ill be near break-even.
Currently EVN is delivering about 15% of total production into out of the money hedges: as at 31 December 2019 some 350,000oz was hedged at an average price of $1,860/oz with quarterly deliveries through to June 2023.
Anyway, worth looking at for those wondering about yield and medium term investment potential.
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Up and down seems to be the norm.
Back on again today with a target ??
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Back on again today with a target ??
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Hard to believe EVN has not broken through its 8 August peak given POG has increased substantially since then.
Just running on EVN production numbers and free cash flow, I see it sitting comfortably over $6 after its next quarterly report.
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I am currently holding EVN which had a nice day yesterday up ~4% and hopefully will continue up again today.
- Huge volume on the 29/5 followed by ATH of $6.32
- The MACD back on the rise and volume is not too bad (dwarfed by the volume spike)
- Some resistance around the $5.60 mark so hopefully it takes that out today and holds
- Huge volume on the 29/5 followed by ATH of $6.32
- The MACD back on the rise and volume is not too bad (dwarfed by the volume spike)
- Some resistance around the $5.60 mark so hopefully it takes that out today and holds
