Goldcorp Inc. (GG) — This precious metals mining company engages in the acquisition, exploration, development, and operation of precious metal properties in the Americas and Australia. It ended its bull market run in July 2008, with the stock at more than $50 a share.

GG plunged below $15 by October but since then has traded in a channel up with support at a line from the October low to the low of Jan. 15.

On Jan. 16, the stock penetrated its 50-day moving average and the stochastic issued a buy signal. GG is a trade up to the resistance, which begins at the 200-day moving average now at just over $32.

Get Sam Collins’ Daily Trader’s Alert e-mailed straight to your inbox each morning before the opening bell absolutely FREE!

In addition to getting instant access to his Trade of the Day, you’ll also receive, in the same e-mail, his Daily Market Outlook so you can start your day off right by positioning yourself for profits!

Click here today to sign up today for Sam’s FREE Daily Trader’s Alert!

Sam Collins is a registered, fee-based portfolio manager who may be contacted samailc@cox.net. You can also check out an archive of some of his most recent market outlooks by clicking here.