JOY Forecast 3/8/16

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Joy Global (NYSE:JOY) is a company that builds and supports the heavy equipment industry in the mining sector. As you can imagine with the way on coal and with gold and silver prices quite low…business has been tough for this company.

As gold moves into a bull market, and silver is close to follow…This stock has experienced some heavy buying in recent days. The stock is now undergoing a counter cyclical re-tracement which our models have identified as a buy signal. We would expect price to drop down near the $15 per share level, then rally up to test the $20 per share area. If this can occur, the uptrend this price move would create should be able to take price much higher…$30 or more.