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Saturday, June 19, 2010

Jaguar Mining (NYSE:JAG) in Bullish Mode?

Jaguar Mining (NYSE:JAG) has been struggling some over the last 52 weeks concerning its share price, as it has held back while many gold miners have moved up with the gold prices, which continue to set records.

It's possible the lagging stock may be ready for a bull move, as it reached over its 50-day moving average on Friday, while also generated more interest, as volume reached 1,452,678 shares, far above the 3-month average of 1,039,440. The moving average for the stock has been $9.88.

Jaguar ended the week at $10.11, and in after hours trading stands at $10.30, as of 1:43 PM EDT on Saturday.

There hasn't been any significant news to suggest reasons for a bull move, so it's more a matter of whether or not the share price is reflecting its true value, and it definitely could be undervalued when measured against the performance of some of its competitors.

Gold closed Friday at an all-time record level of $1,256.50.

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