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Franco-Nevada Looks Set to Rally
Franco-Nevada has been a good tell for mining stocks, and the entire sector could follow its lead.
Jeffrey Cooper    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

Franco-Nevada (NYSE:FNV) is a leading tell for the miners. It gapped down to a test of its 200-day moving average this morning, testing its April low in the process, and it has already carved out an outside up day. The April low was defined by an outside up week, which led to a turn up in the 3-week chart, which ended up marking a pivot high. So, this is a logical place to expect a rally attempt. However, reclaiming its 50 DMA suggests something more is afoot, such as another higher low on the daily and weekly charts.

The bear case is a continuation Head & Shoulders on the weekly chart from August 2013, but that pattern looks misshapen.

Below, see daily and weekly Franco-Nevada charts from August 2013 with Franco-Nevada's 50 (Blue) and 200 (Yellow) DMAs.

http://image.minyanville.com/assets/buzzbanter/charts/original/052914/FNV_Daily_CHart_1401372327.jpg
Click to enlarge

http://image.minyanville.com/assets/buzzbanter/charts/original/052914/FNV_Weekly_Char_1401372335.jpg

Click to enlarge

Twitter: @JeffCooperLive
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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Jeffrey Cooper
Franco-Nevada Looks Set to Rally
Franco-Nevada has been a good tell for mining stocks, and the entire sector could follow its lead.
Jeffrey Cooper    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

Franco-Nevada (NYSE:FNV) is a leading tell for the miners. It gapped down to a test of its 200-day moving average this morning, testing its April low in the process, and it has already carved out an outside up day. The April low was defined by an outside up week, which led to a turn up in the 3-week chart, which ended up marking a pivot high. So, this is a logical place to expect a rally attempt. However, reclaiming its 50 DMA suggests something more is afoot, such as another higher low on the daily and weekly charts.

The bear case is a continuation Head & Shoulders on the weekly chart from August 2013, but that pattern looks misshapen.

Below, see daily and weekly Franco-Nevada charts from August 2013 with Franco-Nevada's 50 (Blue) and 200 (Yellow) DMAs.

http://image.minyanville.com/assets/buzzbanter/charts/original/052914/FNV_Daily_CHart_1401372327.jpg
Click to enlarge

http://image.minyanville.com/assets/buzzbanter/charts/original/052914/FNV_Weekly_Char_1401372335.jpg

Click to enlarge

Twitter: @JeffCooperLive
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Jeffrey Cooper
Franco-Nevada Looks Set to Rally
Franco-Nevada has been a good tell for mining stocks, and the entire sector could follow its lead.
Jeffrey Cooper    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

Franco-Nevada (NYSE:FNV) is a leading tell for the miners. It gapped down to a test of its 200-day moving average this morning, testing its April low in the process, and it has already carved out an outside up day. The April low was defined by an outside up week, which led to a turn up in the 3-week chart, which ended up marking a pivot high. So, this is a logical place to expect a rally attempt. However, reclaiming its 50 DMA suggests something more is afoot, such as another higher low on the daily and weekly charts.

The bear case is a continuation Head & Shoulders on the weekly chart from August 2013, but that pattern looks misshapen.

Below, see daily and weekly Franco-Nevada charts from August 2013 with Franco-Nevada's 50 (Blue) and 200 (Yellow) DMAs.

http://image.minyanville.com/assets/buzzbanter/charts/original/052914/FNV_Daily_CHart_1401372327.jpg
Click to enlarge

http://image.minyanville.com/assets/buzzbanter/charts/original/052914/FNV_Weekly_Char_1401372335.jpg

Click to enlarge

Twitter: @JeffCooperLive
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Jeffrey Cooper
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