Technical analyst Clive Maund charts Kainantu Assets and explains why he has a Purchase advice on the explorer with initiatives in Papua New Guinea.
Kainantu Assets Ltd. (KRL:TSX.V; 6J0:FSE) continues to form up properly because it will get nearer and nearer to creating severe good points, and we must always take into account that it is a inventory with the potential to “do a K92,” which is hardly shocking as its properties are adjoining to K92’s huge discovery and it has a strong treasury, having lately accomplished an oversubscribed financing and is engaged on a drilling program.
We have now checked out Kainantu a number of occasions for the reason that begin of the 12 months, shopping for it very close to to its lows or at opportune occasions on dips and this replace is just a reminder that it continues to look good and is a purchase right here once more after the most recent dip, for causes that must be apparent while you take a look at its newest 1-year chart under. As we are able to see it’s properly positioned to interrupt out the highest of a big high-quality Bowl sample and it must be assisted on this by the rising pattern in metals costs.
So we keep lengthy and new purchases are so as.
Kainantu Assets web site
Kainantu Assets Ltd, KRL.V, closed at C$0.22 on 4th March 2022.
Initially posted on CliveMaund.com at 6.20 am EST on seventh March 2022.
Clive Maund has been president of www.clivemaund.com, a profitable useful resource sector web site, since its inception in 2003. He has 30 years’ expertise in technical evaluation and has labored for banks, commodity brokers and stockbrokers within the Metropolis of London. He holds a Diploma in Technical Evaluation from the UK Society of Technical Analysts.
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