RonVau
Short

The Party Is Over

NYSE:KL   KIRKLAND LAKE GOLD
Although Barchart has it as a 96% STRONG BUY, they caution as follows:

"The Barchart Technical Opinion rating is a 96% Buy with a weakening short term outlook on maintaining the current direction.

Longer term, the trend strength is Strong. Long term indicators fully support a continuation of the trend.

The market is approaching overbought territory. Be watchful of a trend reversal."

I would tend to agree because it has bounced off of resistance and fallen through support. I'm selling and I'll watch next week to see what it does; I wouldn't trust it over the weekend.
The Party might be back on...at least give a look in the morning; it's moving back up a little overnight in expectancy of an rally tomorrow.
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@RonVau, Stick to your guns Ron, weekly sell divergence here on RSI 9 and on Gold last week, price should come back to value for a load up again short-term but good for the long-term, seems to have some weight behind the shares, tax in Victoria is not welcome in the short or long - term, have fun but Politicians are getting desperate everywhere for tax raising ideas
+1 Reply
RonVau iminlovewithscarlett
@iminlovewithscarlett, If it closes above resistance again, I'll likely go back in if everything looks good.
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