Highland Gold Mining Limited : Consolidation phase before a rebound
Entry price | Target | Stop-loss | Potential |
---|
GBX 37.5 |
GBX 0 |
GBX 34.9 |
-100% |
---|
Highland Gold Mining shows relatively strong fundamentals and is coming back to attractive prices.
According to Surperformance© ratings, the company constitutes an opportunity for a trading strategy. Indeed, it usually posts better-than-expected financial statements and the enterprise valuation conciliates with its visibility.
After several weeks of horizontal fluctuations within the mid-term range GBp 36.5 / GBp 40, the stock is coming back close to the lower limit of the range.
The GBp 36.5 area could cause a positive reaction for the coming trading sessions and allow a technical rebound towards the GBp 44 mid-term resistance.
Therefore, the proximity of the GBp 36.5 support is an opportunity to go long on Highland Gold Mining. The first goal is a return in the GBp 44 resistance area, that is a potential of 17%. In fact, the security has to cross this area in order to re-establish a bullish trend in the short term. A stop loss order can be placed under the support currently tested.
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