Wednesday, March 27, 2019 11:58:15 AM
One of the leading gold mining stocks in the past year has been Kirkland Lake Gold Ltd (NYSE:KL). This company is a Canada based mid tier gold mining, development and exploration company. The stock broke out to the upside in December 2018 and traded as high as $36.74 a share on February 28, 2019. The stock has now made some lower highs on the daily chart and is consolidating on its 50-day moving average in a bearish manner. This pattern signals some more weakness ahead. Traders and investors should now look for daily chart support around the $29.00 area. This level is where there is an important retrace area and a rising 20-week moving average. This is usually a solid combination for a solid bounce in the stock.
Nick Santiago
InTheMoneyStocks
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