LAKE SHORE GOLD CORP 6.25 PCT DEBS T.LSG.DB

oversold

[Elvisimpress1]

LSG Crosses Critical Technical Indicator

In trading on Friday, shares of Lake Shore Gold Corp (AMEX: LSG) entered into oversold territory, changing hands as low as $0.8499 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of Lake Shore Gold Corp, the RSI reading has hit 29.4 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 49.9, the RSI of Spot Gold is at 54.1, and the RSI of Spot Silver is presently 51.1.

Click here to find out what 9 other oversold metals stocks you need to know about, at MetalsChannel.com »

A bullish investor could look at LSG’s 29.4 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.

Looking at a chart of one year performance (below), LSG’s low point in its 52 week range is $0.75 per share, with $2.08 as the 52 week high point — that compares with a last trade of $0.8667. Lake Shore Gold Corp shares are currently trading down about 6% on the day.

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[dogwag]

Thanks ELVIS,this is a good tool to have on a stock.I just sold GSC this week at $2.05 as it,s RSI reached 70 and now it has fallen  to 64.LSG may be getting close to a buy here because large investors\ bankers use the RSI to buy and sell stocks religously!!!They may have dissipointed last qtr but still could reach the bottom end of their yearly target which today in mining is a huge

[goldhappy]

Nice points you made dogwag. One thing I know is all us little investors won't move LSG. The institutional types are the ones with deep pockets and likely a direct pipeline to Tony's rep. or perhaps Tony himself. We don't count for anything. We get to ride the coat tales of the big boys. Until then my eye brows remain focussed on hold and load when I can. Our day will come