Share to sell – Oz Minerals (OZL)
Posted on August 5, 2015
A recommendation to sell OZL is based primarily on the weakening gold price.
Gold price forecasts have been slashed across the board, by between eight and 14%.
This has been done to reflect expected US rate rises and lacklustre demand.
Technically, OZL is in a downtrend, having sold off from $5.10 in May to presently be trading near support in the $3.70 region.
The EMAs are bearish, momentum has turned bearish and the stock is not yet oversold.