This Gold-Mining Stock Is Finally Pulling Back, Watch This Trade
InTheMoneyStocks.com | Mar 27, 2019 01:23PM ET
One of the leading gold-mining stocks in the past year has been Kirkland Lake Gold (TO:KL) (NYSE:KL). The company is a Canada-based, mid-tier gold miner, 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. It 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. That's where there is an important retrace area and a rising 20-week moving average. This is usually a good combination for a solid bounce in the stock.
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