VanEck Vectors Gold Miners ETF Could Be Poised To Break Out Of Downward Trend Thanks To Fundamentals And Sentiment

Rick Pendergraft
4.04K Followers

Summary

  • Gold mining stocks have seen surprising earnings and revenue growth in the last few quarters.
  • Despite the surprising growth rates, the mining stocks have been trending lower.
  • The VanEck Vectors Gold Miners ETF has been moving lower and a downward sloped trend channel has formed.
  • Bullish sentiment toward gold has been falling and could be reaching a key level.
nugget gold
Photo by bodnarchuk/iStock via Getty Images

Using sentiment indicators as part of your analysis process is partly art and partly science, at least that’s how I fell. When you look at the various sentiment indicators, you have to keep in mind what the underlying fundamentals are telling you about

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This article was written by

4.04K Followers
Rick Pendergraft is a Strategic Content Manager at Seeking Alpha. Prior to joining the company, he was a contributor to the site and has been involved in the investment publishing industry for over 20 years. He has worked for some of the largest financial publishers in the world and he has been quoted in the Wall Street Journal, USA Today, and New York Times. In addition, he has been interviewed on Bloomberg, CNBC and Fox Business News. Rick received a Bachelor of Science Degree in Economics from Wright State University. When he isn’t working at Seeking Alpha, you can usually find Coach Rick doing something involving basketball. He coaches with a high-level travel basketball program in South Florida currently.

Analyst’s Disclosure:I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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