Klondex is one that I have considered a quality miner to this point, but it is getting hit on its quarterly loss of .01/share today. Here is a roundup of the results and outlook. Please do your DD if interested.
As for the technicals for those interested, it is pretty cut and dry, with lateral support, the 50 day moving averages and a channel line coming into play in the 3.00 to 3.20 area.
Here is the weekly chart we have been reviewing in NFTRH. As of now it is only testing the top line of the post-2013 bull market channel breakout. The daily chart seems to imply that it can drop back into the channel to the center line for a buying opportunity. But if the sector finds support here and continues upward, maybe this downside reaction will be a one and done. The support level above does look appetizing though.
Buy Target: 3 to 3.20
Sell Target: Undetermined, as it is a long-term uptrend and potential buying opportunity, not a pattern.
Stop Loss: Below 3 to suit risk tolerance
Those watching the Canadian symbol KDX.TO can use currency adjusted equivalent levels.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for further research if interested. I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
