8 Top Diamond Stocks: Great Opportunities For 2019 And Beyond 2020

The monthly chart of Petra Diamonds keeps making lower lows. It doesn’t look good at all but price came to temporary halt on what seems to be a major support zone.

We expect some volatility before price moves up. We do not rule out a temporary fake down before going up too.

top diamond stock Petra Diamonds

Petra Diamonds: monthly chart

Top diamond stock Mountain Province Diamond 

Mountain Province Diamond (TSE: MPDV) Mountain Province Diamonds Inc. is major partner with De Beers in the Gahcho Kue Diamond Mine Project in the Northwest Territories. Gahcho Kué is the world’s largest and richest new diamond mine, with an estimated reserve of 80 million carats.

The monthly chart of MPDV looks really bad with no sign of bottom (yet). Presumably, its price will reverse when market sentiment hits rock bottom.

We are not saying price will reverse for sure, but given that price has hit the upward channel lower support means there is a potential support coming soon.

top diamond stock MPDV

MPDV: monthly chart

There are other huge diamond mining companies which we couldn’t find the chart such as Dominion Diamond Corporation (DDC) from Toronto and etc.

8 Top Diamond Stocks: Conclusions

Judging from the above eight diamond stocks stocks from various countries only Rio Tinto stands out among them with a strong uptrend.

We are fully aware of the currency effect having influenced diamond prices. As a general rule of thumb we deem diamonds (part of the mining business) to be U.S. dollar sensitive. The lower the USD falls the better for diamond mining companies.

InvestingHaven’s team sees a potential bottoming formation in diamond stocks. However, we want to see a major fall in the USD in next few months. Should the USD continue to rise it will not be favorable for the diamond mining business.

Moreover, the current bottoming formation looks very enticing for the long term. We must see confirmations of these major bottoms first, before going all in on the diamond stock sector. It is an absolutely mandatory pre-requisite. Anticipating a bottom is not a sign of investing wisdom.

We will followup if and when the diamond stock sector shows signs of turning bullish, throughout 2019 and 2020

This article only serves an educational report. We do not intend readers to buy or sell stocks because of our writing(s).

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Disclosure:This article only serves an educational report. We do not intend readers to buy or sell stocks because of our writing(s).

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