RSI: crossover close to 70
FStoch: crossover above 80
Bollinger Bands: Top Line cross
Pattern Reversal: Short Term Bearish
Action: potential drop OF 12%
Confirmation: Evening Star
After an incredible "cup" that has formed technically with Kirkland Lake over the last while giving it incredible momentum, one only had to think: where is the "handle" and when will it happen? Well, we found it and boy did we ever!
Kirkland Lake although one of the more promising seniors in the entire Gold industry sold fiercely off as investors worry the...
If the price pull back to the around $47 which will be the previous downward trend line support and also the 20 day EMA support. It should be a high probability trade.
Can scale to 1 hour time frame to spot a short term trend line break.
Update from January.
Seems like Kirkland lake's announcement of 1 million ounces was enough to get the investors to keep rushing in and create support where there once was resistance.
If you are like me and it was enough to keep yourself into this play we now may want to stick around a little longer.
There are two ways to play this:
- Wait till the support line...
Kirkland lake has had a good run the last few years. Mining some very cheap gold in stable countries like canada and australia and increasing its output year after year, this darling has been a 10 bagger in just 3 years in a quiet gold market!
All good things must come to an end and while I foresee gold to still do good the coming weeks, it might be the last...
Kirkland Lake Gold Ltd. engages in the mining, development, and exploration of gold properties. The firms projects include Holt Mine, Macassa Mine, and Taylor Mine. The company was founded on July 10, 2015 and is headquartered in Toronto, Canada.