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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (32137)	2/7/2007 9:43:32 AM
From: LoneClone	Respond to of 78431

Indicators are golden for miner Rio Narcea Ron Meisels 00:00 EST Wednesday, February 07, 2007 RNG-TSX ($3.19) globeinvestor.com Rio Narcea Gold Mines Ltd. had a sharp rise from 95 cents in August, 2002, to $4.24 in January, 2004 (A-B), and then developed an extremely bullish accumulation pattern, best described as an inverse head-and-shoulder (see chart). Rio Narcea rose to its "neckline" recently (C), and then pulled back to test its rising 40-week moving average (D). The recent move above the neckline to $3.58 (E) confirms the breakout and the start of the next major upleg. Technical indicators confirm the bullish status: The 40-week moving average is trending higher, the volatility system indicator (VSI) shows positive momentum and the moving average convergence/divergence (MACD) is rising (see lower panel). Only a decline below $2.60 would reverse the positive long-term status of this stock. Point & Figure measurements provide targets of $4 and $4.50 (25 per-cent and 41 per-cent appreciation potentials from current levels). Higher targets are possible. Ron Meisels is a contributor to the na-marketletter.com website. He may hold shares in companies profiled. Please see the site for a glossary.