Canadian gold miner Richmont Mines Inc. (RIC) looks like it's getting ready to break out of an inverted head-and-shoulders formation.

Once it does, its last area of resistance will be the all-time high around $5, where it's likely the stock will pause before breaking out to new highs.

My target for 2010 is in the $7 range, but I see RIC heading to $10 in 2011.

Continue reading Gold Stock #5: Richmont Mines Inc. (RIC)

Gold Stock #5: Richmont Mines Inc. (RIC) originally appeared on BloggingStocks on Sun, 10 Jan 2010 14:00:00 EST. Please see our terms for use of feeds.

Nevsun Resources Ltd. (NSU) is a gold and base metal mining and exploration company.

The stock broke out of an inverted head-and-shoulders pattern in 2009. In 2010, it should challenge its all-time high near $4, which was made in April 2006.

Once that $4 level is broken, the pattern will turn into a large triangle with a target of at least $6.

Continue reading Gold Stock #4: Nevsun Resources Ltd. (NSU)

Gold Stock #4: Nevsun Resources Ltd. (NSU) originally appeared on BloggingStocks on Sun, 10 Jan 2010 12:00:00 EST. Please see our terms for use of feeds.

Next is exploration-stage company Entree Gold Inc. (EGI).

EGI is in a very rare, bullish reverse symmetrical triangle. This chart pattern has a failure rate of only 2%, which means there is a 98% chance that the stock will be successful in reaching the top trendline around $6.

Continue reading Gold Stock #3: Entree Gold Inc. (EGI)

Gold Stock #3: Entree Gold Inc. (EGI) originally appeared on BloggingStocks on Sun, 10 Jan 2010 10:00:00 EST. Please see our terms for use of feeds.

Gold exploration company Rubicon Minerals Corp. (RBY) broke out to new all-time highs in 2009, and currently has no overhead supply or resistance.

Here the Moving Average Convergence/Divergence (MACD) tells us that RBY looks to be in a parabolic move up and is showing no negative divergence.

My conservative target for RBY is $9, but I expect the stock to clear that target and head even higher.

Continue reading Gold Stock #2: Rubicon Minerals Corp. (RBY)

Gold Stock #2: Rubicon Minerals Corp. (RBY) originally appeared on BloggingStocks on Sat, 09 Jan 2010 14:00:00 EST. Please see our terms for use of feeds.

Gold producer Allied Nevada Gold Corp. (ANV) has broken out of a bullish ascending triangle pattern, has favorable indicators and oscillators and lacks any overhead supply.

The lack of overhead supply with many of the gold stocks on this list is what makes the potential for their move up so monumental. When stocks are making new all-time highs like ANV is, you don't run into what I like to call "pissed off supply."

Continue reading Gold Stock #1: Allied Nevada Gold Corp. (ANV)

Gold Stock #1: Allied Nevada Gold Corp. (ANV) originally appeared on BloggingStocks on Sat, 09 Jan 2010 12:00:00 EST. Please see our terms for use of feeds.

Gold has risen for nine straight years without a single year of negative returns and this year will be no different. And gold is not a U.S. dollar story. Gold isn't rising on the dollar alone. It's hitting new highs in every currency around the globe and not all the world's currencies experienced a complete freefall like the greenback.

Continue reading The Five Hottest Gold Stocks for 2010

The Five Hottest Gold Stocks for 2010 originally appeared on BloggingStocks on Sat, 09 Jan 2010 10:00:00 EST. Please see our terms for use of feeds.