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Royal Gold Bullish Moving Average Crossover Alert (RGLD)

Published on Thu, 01/24/2013 - 12:12
By Robert Cotter

Royal Gold (NASDAQ:RGLD) shares have crossed bullishly above their 10-day moving average of $80.78 on a volume of 343K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Royal Gold share prices have been bracketed by a low of $55.00 and a high of $100.84 and are now at $81.16, 48% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.4%.

Potential upside of 19.1% exists for Royal Gold, based on a current level of $81.16 and analysts' average consensus price target of $96.67. The stock should hit resistance at its 50-day moving average (MA) of $81.42, as well as support at its 200-day MA of $78.83.

Royal Gold, Inc. is a United States-based precious metals royalty company that invests in public companies that hold and manage royalties on precious metals properties. The Company holds investments in a number of properties located in the United States, Argentina, Greece, and Bulgaria.

By Robert Cotter
rcotter@fnno.com