Coeur Mining Inc. (NYSE:CDE) Can Bounce From Current Levels

Boston, MA, 04/22/2014  (usastockreport) –  Coeur Mining Inc. (NYSE:CDE) saw a downside on Monday after the stock closed 0.94% in the red. The stock managed to recover a little from its intraday low of $8.24 and close at $8.43. The stock has been on a downward trend and is near its 52 week low.

Coeur Mining Inc. (NYSE:CDE) has been on a downward trend for the first quarter 2014, the stock broke its critical support level of $9.05 and slid down further on Thursday.

The stock is currently trading below its 200 day moving average which is at $11.72 levels and below its 50 day moving average which is at $10.30 levels, this indicates the stock has lost a significant amount in the last couple of months. The stock has shown very weak signs of an upward trend, with very weak support levels and strong resistance levels.

The momentum indicators for Coeur Mining Inc. (NYSE:CDE) on the daily charts show a very weak upward trend and are in the negative zone, which implies the stock is oversold and could see some buying come in the stock in the future trading sessions.

The relative strength index also is in the oversold region, this indicates a trend reversal can be seen coming in the near future, if the stock gains volumes and traders start taking long position, the stock could see a trend reversal.

From the current levels the stock has a strong resistance around $11.90 and on the bearish trend; the stock has a good support around $8.20 levels.

 19.1(FIGURE): Daily Chart for Coeur Mining Inc. (NYSE:CDE) 

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Coeur Mining Inc. announced swapping of its outstanding unregistered notes worth $150 million with fresh registered notes in compliance with the registration terms and conditions with the existing owners of these notes. The exchange offer is set to expire on May 9, 2014, which may be extended by the company.

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