This stock makes for a great trade. It is constrained on the upside by a downstrend, and on the downside by a support level at 85c. The support is coming from the strong copper and gold prices, but since most of this strength is arising from a weak USD, there is some basis for weakness in this stock.
I see the stock falling back to 85c in coming months. But in the short term it will likely climb back to $1.05 per share. The outlook for this stock in the long term remains positive.
Andrew Sheldon www.sheldonthinks.com
No comments:
Post a Comment