Gold Junior prepares for a breakout :: InvestMacro

source: Clive Mound 07/14/2022

Technical analyst Cliff Mound explains why this young Papua New Guinean gold explorer getting ready to go far is a buy in his book.

We have a very positive setup now Kainantu Resources Ltd. (KRL: TSX.V; 6J0: FSE), Especially for new buyers.

We can see in the charts below that it has been very battered by the sharp decline of the sector in the past couple of months, but with the sector being so oversold now, we see that the stock has been in the midst of a strong build-up that has been going on for several weeks and appears to be very close to breaking its “head and shoulders” bottom Accompanied by an exceptionally positive volume pattern.

Chart 1

Therefore, Kainantu Resources is rated as a strong and immediate speculative buy.

Kainantu . Resources website

Kainantu Resources Ltd, KRL.V closed at CAD 0.115 on July 13, 2022.

Originally published on on July 7, 2022.

Clive Mond He has been Head of, a successful resource industry website, since its inception in 2003. He has 30 years of experience in technical analysis and has worked for Banks, Commodity Brokers and Stock Exchange brokers in the City of London. He holds a Diploma in Technical Analysis from the Society of Technical Analysts in the UK. Disclosures

The above represents the opinion and analysis of Mr. Maund, based on the data available to him, at the time of writing. Mr. Maund’s opinions are his own, and are not a recommendation or offer to buy or sell securities. Mr. Mond is an independent analyst who receives no compensation of any kind from any groups, individuals or companies mentioned in his reports. Since trading and investing in any financial markets may involve significant risk of loss, Mr. Mound recommends consulting with a qualified investment advisor, licensed by the appropriate regulatory agencies in your jurisdiction and undertaking due diligence and research when undertaking any type of transaction with financial implications. Despite being a qualified stock market analyst and expert, Clive Mound is not a registered securities advisor. Maund’s views on the market and stocks can therefore only be construed as an invitation 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 jurisdiction.

1) Clive Mound: I or members of my immediate family or family own the securities of the following companies mentioned in this article: None. I personally, or my family or family members, pay me the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Kainantu Resources Ltd. click over here For important disclosures about sponsor fees.

3) Statements and opinions expressed are those of the author and not those of Streetwise Reports or its officials. The author is fully responsible for the correctness of the data. The author has not been paid by Streetwise Reports for this article. The author did not pay Streetwise Reports to publish or promote this article. Streetwise Reports requires contributing authors to disclose any contributions or economic relationships with the companies they write about. Streetwise Reports relies on the authors to provide this information accurately and Streetwise Reports has no way to verify its accuracy.

4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action the reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ full legal terms of use disclaimer. This article is not a solicitation to invest. Streetwise Reports does not provide general or specific investment advice and the information in Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the businesses, products, services, or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the Site, may have a long or short position in said securities. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or selling such securities on the open market or otherwise from the time of the decision to publish an article until three business days after the article is published. The foregoing prohibition does not apply to articles that merely repeat in substance the company’s previously published versions. As of the date of this article, the officers and/or employees of Streetwise Reports LLC (including their family members) own the securities of Kainantu Resources Ltd.a company mentioned in this article.

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