How the price action of Kirkland Lake Gold Ltd (KL) is used to our Advantage
January 16, 2022, 12:30 pm ET, BY Christie- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Kirkland Lake Gold Ltd (NYSE: KL) data table below can help you with price action, and we have more details too. Trading plans for KL are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Longer Term Trading Plans for KL
- Buy KL slightly over 38.44 target 42.48 stop loss @ 38.33 Details
The technical summary data tells us to buy KL near 38.44 with an upside target of 42.48. This data also tells us to set a stop loss @ 38.33 to protect against excessive loss in case the stock begins to move against the trade. 38.44 is the first level of support below 40.41 , and by rule, any test of support is a buy signal. In this case, support 38.44 would be being tested, so a buy signal would exist.
- Short KL under 42.48, target 38.44, stop loss @ 42.6 Details
The technical summary data is suggesting a short of KL as it gets near 42.48 with a downside target of 38.44. We should have a stop loss in place at 42.6though. 42.48 is the first level of resistance above 40.41, and by rule, any test of resistance is a short signal. In this case, if resistance 42.48 is being tested, so a short signal would exist.
Swing Trading Plans for KL
- Buy KL slightly over 41.19, target 42.48, Stop Loss @ 41.07 Details
If 41.19 begins to break higher, the technical summary data tells us to buy KL just slightly over 41.19, with an upside target of 42.48. The data also tells us to set a stop loss @ 41.07 in case the stock turns against the trade. 41.19 is the first level of resistance above 40.41, and by rule, any break above resistance is a buy signal. In this case, 41.19, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short KL near 41.19, target 39.47, Stop Loss @ 41.31. Details
The technical summary data is suggesting a short of KL if it tests 41.19 with a downside target of 39.47. We should have a stop loss in place at 41.31 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 41.19, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for KL
- Buy KL slightly over 40.76, target 41.19, Stop Loss @ 40.66 Details
If 40.76 begins to break higher, the technical summary data tells us to buy KL just slightly over 40.76, with an upside target of 41.19. The data also tells us to set a stop loss @ 40.66 in case the stock turns against the trade. 40.76 is the first level of resistance above 40.41, and by rule, any break above resistance is a buy signal. In this case, 40.76, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short KL near 40.76, target 39.47, Stop Loss @ 40.86. Details
The technical summary data is suggesting a short of KL if it tests 40.76 with a downside target of 39.47. We should have a stop loss in place at 40.86 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 40.76, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
KL Ratings for January 16:
Term → | Near |
Mid |
Long |
Rating |
Strong |
Strong |
Neutral |
P1 |
0 |
0 |
38.44 |
P2 |
40.76 |
39.47 |
42.48 |
P3 |
41.44 |
41.19 |
46.62 |
⚠Triggers may have already come
Support and Resistance Plot Chart for KL
Blue = Current Price
Red= Resistance
Green = Support
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