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Kirkland Lake Gold Is Shining Bright on the Charts - Risking below $22, traders could approach the long side of Kirkland Lake Gold look for gains to the upper $30s - ex....
The 200-day line was successfully tested in September, October and November. The daily On-Balance-Volume (OBV) line shows a slow rise from February to early August and then a more dramatic rise from September. This rising OBV line tells us that buyers of KL have been more aggressive recently and this helps to confirm the price gains. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish configuration above the zero line.
Prices are above the rising 40-week moving average line. The weekly OBV line has been strong for the past year and the weekly MACD oscillator just crossed to the upside for a fresh outright go long signal.
In this Point and Figure chart of KL, below we can see an upside price target of $37.50.
Kirkland Lake Gold is focused on producing over 620,000 high quality ounces in 2018 from our mines in Canada and Australia, with a commitment to sustainable production, organic growth and a strong financial position.
2018 Gold Production of > 620,000 oz Solid operating platform in Tier 1 mining jurisdictions Strong Balance Sheet
Cash Balance of US$ 230 million at December 31, 2017
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