Kirkland Lake is pulling ahead of its peers in the gold mining sector now that interest in the sector has waned after the late June / early July run up on gold. The same fears and uncertainties are there, but more measured investors are going to single out KL as a sector leader as well as a their management's ability to grow earnings. Short interest continues to be nearly non-existent, so no brave souls are willing to stand in front of this train.
The price is bouncing off of the 10 day moving aveage and all short term averages are above long term averages. MACD is moving towards breaking bullish, and the more nervous investors may wish to wait for the histogram to go positive if they want further confirmation of this move. DI+ has just risen over ADX again with ADX just below 30 and changing direction to indicate a resuming trend. Rate of change is showing positive movement over the running average as a good buying signal. RSI is high, but that's to be expected when resuming an uptrend to test new all time highs.
I was holding AU at the end of June but my stop got hit first thing in July. Now KL looks to be the leading peer of the sector in the short term with a good buy-in point setting up right now.
The price is bouncing off of the 10 day moving aveage and all short term averages are above long term averages. MACD is moving towards breaking bullish, and the more nervous investors may wish to wait for the histogram to go positive if they want further confirmation of this move. DI+ has just risen over ADX again with ADX just below 30 and changing direction to indicate a resuming trend. Rate of change is showing positive movement over the running average as a good buying signal. RSI is high, but that's to be expected when resuming an uptrend to test new all time highs.
I was holding AU at the end of June but my stop got hit first thing in July. Now KL looks to be the leading peer of the sector in the short term with a good buy-in point setting up right now.
