SHREVEPORT, La., May 30, 2003 (PRIMEZONE) -- StockPickReport.Com makes these short-term stock recommendations:
Eldorado Gold Corp New (TSX:ELD) StockPickReport.Com Rating: SELL http://canada.stockpickreport.com/pr/ELD.htm
ELDORADO GOLD CORPORATION is involved in the mining, exploration and development of gold properties in Brazil and Turkey.
The recent bias for ELD's volume looks like it's moving down. Furthermore, short-term stochastics reflect levels commonly associated with a move lower. The price action was to the downside for the stock of late. Our research indicates probable downside for ELD from current prices. ELD could see losses from here but those losses may not be striking on a percent basis.
For clarification on how we rate ELD a SELL, please visit: http://canada.stockpickreport.com/pr/ELD.htm
BARRICK GOLD CORP. (TSX:ABX) StockPickReport.Com Rating: SELL http://canada.stockpickreport.com/pr/ABX.htm
BARRICK GOLD CORPORATION is a gold producer with operations and development projects in North and South America, Tanzania, and Australia.
ABX's closing price fell to lower ground since last week. In addition, the near-term bias appears to be losing momentum regarding the stock's volume. Short-term stochastics reflect levels commonly associated with a move lower. Our research indicates probable downside for ABX from current prices. ABX could see losses from here but those losses may not be striking on a percent basis.
For clarification on how we rate ABX a SELL, please visit: http://canada.stockpickreport.com/pr/ABX.htm
BANK NOVA SCOTIA HALIFAX (TSX:BNS) StockPickReport.Com Rating: SELL http://canada.stockpickreport.com/pr/BNS.htm
The Bank of Nova Scotia provides personal and commercial banking, wealth management and corporate and investment banking services and products to individual and business customers in Canada and around the world.
Share volume appears to be on the way up. Short-term stochastics reflect levels commonly associated with a move lower. In conclusion, the price action has been to the upside for the stock recently. Our research indicates probable downside for BNS from current prices. BNS could see losses from here but those losses may not be striking on a percent basis.
For clarification on how we rate BNS a SELL, please visit: http://canada.stockpickreport.com/pr/BNS.htm
Hudson's Bay Company (TSX:HBC) StockPickReport.Com Rating: SELL http://canada.stockpickreport.com/pr/HBC.htm
HUDSON'S BAY CO. is a merchandising company. Through its three operating divisions, The Bay, Zellers, and Fields, the company covers the Canadian retail market across all price zones and from coast to coast. On a combined basis, it accounts for about 7.5% of Canadian retail sales, excluding food and automobiles.
The near-term bias looks to be on the rise for HBC's volume. Likewise, short-term stochastics reflect levels commonly associated with a move lower. In conclusion, investors should note that the stock's end-of-day price trended to lower levels during the last 5 day period. Our research indicates probable downside for HBC from current prices. HBC could see losses from here but those losses may not be striking on a percent basis.
For clarification on how we rate HBC a SELL, please visit: http://canada.stockpickreport.com/pr/HBC.htm
NORANDA INC. (TSX:NRD) StockPickReport.Com Rating: BUY http://canada.stockpickreport.com/pr/NRD.htm
NORANDA INC. is involved in the acquisition, exploration and development of metal and mineral properties and the production of finished product. It is also a recycler of secondary copper, nickel and precious metals.
The near-term direction appears to be on the decline for NRD's volume. Likewise, based on short-term stochastics, we believe the stock will be moving higher. The bias has been to the upside for the stock lately. Our research indicates probable upside for NRD from current prices. NRD could see gains from here but those gains may not be striking on a percent basis compared to a stock with a Strong Buy rating.
For clarification on how we rate NRD a BUY, please visit: http://canada.stockpickreport.com/pr/NRD.htm
WHAT THESE RATINGS MEAN:
StockPickReport.Com uses a series of technical indicators to find stock moves before they happen. We use a scale of -10 to +10 to describe our opinion about the potential strength of a stock's upcoming move. Here is a guide for how to read our ratings:
+10 to +5 - We believe that the stock has a greater than average chance +to move higher.
+4 to +1 - We believe the stock has a good chance to move higher, +although the move may not be strong or long-lived. Many times +divergent indicators lead to a rating in this category.
-1 to -4 - We believe the stock has a good chance to move lower, although the move may not be strong or long-lived. Many times divergent indicators lead to a rating in this category.
-5 to -10 - We believe that the stock has a greater than average chance to move lower.
About StockPickReport.Com:
StockPickReport.Com is a stock research firm. Our daily commentary has regular, worldwide distribution. We are Registered Investment Advisors. We do not accept third-party compensation to make stock suggestions. We do not own shares of any stock we rate.
Investors are advised that this analysis is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy. This report does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. The information contained herein is based on sources that we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. Past performance is no guarantee of future results. Any opinions expressed herein are statements of our judgment as of the date of publication and are subject to change without notice. Reproduction without written permission is prohibited.