DROOY a Good Gold Stock?

By fous on Feb 04, 2008

DROOY made a solid 17% rally today on increased volume breaking out from an ascending wedge pattern placing this stock on the map for technical analysis breakout buyers. With a forward earnings estimates of .51 and the Gold industry trading at an average earnings multiple of 42.28x earnings, this sets DROOY with an attractive fair value share price among its peers around double from its current pps 11.35 at (42.28 x .51 = 21.56). Although with Gold contracts looking extremely over extended its a tough decision to buy as gold is gonna hit a top sooner or later and endure a correction, which will have an impact on gold stocks, likely similar to the solar correction we are currently witnessing. No plan for buying at the moment but this stock looks bullish and fundamentals are in our favor. Lets feel this one out a little bit longer.

More Info: TheTechnicalTrader.net

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This entry was posted on Monday, February 4th, 2008 at 3:40 pm and is filed under Stock Charts. You can skip to the end and leave a response. Pinging is currently not allowed.

13 Responses to “DROOY a Good Gold Stock?”

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By sailorman28 on February 9th, 2008 at 9:39 pm

I strongly agree with what you said. It is imperative that we focus
all of our efforts on finding the true “fundamentals” of stocks
before we buy/sell. With todays struggling economic situation, it is
hard to judge what is “undervalued” because almost everything is, but
make investments based on the long term. That is, if you buy cheap
today, hold for at least 3-6 months because it will take time for
stocks like Apple and Microsoft to turn around! I was using
http://www.swiftstocks.com this week in order to follow these two stocks and
it is amazing how quickly bad news effects stocks. The minute negative
news came out for Apple, the stocks price plummeted because people are
scared! Anyways, buy and hold long. You will not be disappointed!
Cbrown

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