While the general public have been trained to believe that they need a booster shot of "vaccine" every few months in order to "remain current," we understand that there are times in life when a booster is appropriate, as for example when a stock is in a steady uptrend that is in its early stages and it drops near to the lower boundary of the uptrend.
This is the case again with Kainantu Resources Ltd. (KRL:TSX.V; 6J0:FSE), which, after consolidating for about six weeks, is once again close to the lower boundary of its young uptrend as we can see on its latest six-month chart.
We therefore stay long and this is another good point to buy or add to positions.
Kainantu Resources website
Kainantu Resources Ltd, KRL.V, closed at CA$0.23 on April 1.
Originally posted on CliveMaund.com on April 3.
Clive Maund has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years of experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a diploma in technical analysis from the UK Society of Technical Analysts. He lives in southern Chile.
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Charts provided by the author.
The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.