PAAS and NEM…
Two of the best PM stocks over the last 4 years are PAAS and NEM. They are also the most solid looking currently in terms of long term MAs. In both, the 200 WMAs have just crossed the 600 WMAs. These are without question both in bull trends. They were probably some the safest names to buy over the last 2 years. However, they are both fairly extended now and probably don’t have much upside left in the short term before they will have to pullback and consolidate. A touch of the 30 or 50 WMA probably would be a fairly low risk entry spot.
In contrast, something like $HUI’s 200 WMA is still well below the 600 WMA and even if the angle of incline of the 200 WMA goes up markedly in the near term, it probably won’t be crossing the 600 WMA until the middle of next year and possibly much, much later (2022 or 2023?).
Time for some other miners to do the heavy lifting then…