Sellers moving price lower but buyers soaking up the pressure

Potential Buy Entry Alert to Watch SAR

Time Frame : Daily/Weekly

Sector : Materials/Basic Materials

Key Stats : $2.26 Billion Market Cap, VWAP 2.786, ASX Ranking 154, 4 Week Av Turnover $14,603,316, Current Turnover (Intraday as at time of alert) $3,606,174.

Company Overview : Saracen is an ASX 200 listed gold mining company with annual production of over 300,000ozpa, with growing cash flows (forecast all-in sustaining cost of less than A$1,075/oz). Saracen’s production comes from two WA projects, Carosue Dam Operation and its Thunderbox Operation. Both operations have long lives with extensive potential for further growth through exploration.

Broker Consensus : HOLD


SAR – Saracen Mineral Holdings Limited

SAR has been contracting off the highs around 3.47 since Feb when Aussie Gold starting to come under pressure. Buyers have been soaking up the pressure around 2.50 so we are watching for this level to hold for SAR to continue the long term trend higher. If price can hold a higher low as buyers step up to the plate then we will be watching for an entry setup.

Stock Code : SAR – Saracen Mineral Holdings Limited

Company Website : www.saracen.com.au

Current Price : 2.775

Status : On watch for potential higher low and move up through 3.00