Junior Breaks Out of Bull Pennant Analyst Says

An Asia Pacific-focused junior explorer breaks out of a bull pennant and marks the beginning of the subsequent upleg in its inventory, analyst Clive Maund says.

We purchased Kainantu Assets Ltd. (KRL:TSX) at two good entry factors proven on its newest six-month chart under, and the aim of this replace is to convey to your consideration that yesterday it broke out of the bull pennant that we had earlier recognized on robust quantity.

This could mark the beginning of the subsequent upleg within the inventory that’s prone to be extra substantial than the one initially of the yr, which served greater than something to “get the ball rolling.”

The pennant went on for somewhat longer than anticipated at about 5 weeks, however the outlook didn’t change and stays resolutely bullish.

No motion is required on our half — we keep lengthy and Kainantu is a purchase on minor dips, if any.

Kainantu Assets web site

Kainantu Assets Ltd, KRL.TSX, closed at C$0.21 on fifteenth Feb. 22.

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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Charts supplied by the creator.

CliveMaund.com Disclosures:
The above represents the opinion and evaluation of Mr. Maund, based mostly on knowledge obtainable to him, on the time of writing. Mr. Maund’s opinions are his personal, and will not be a suggestion or a suggestion to purchase or promote securities. Mr. Maund is an unbiased analyst who receives no compensation of any type from any teams, people or firms talked about in his reviews. As buying and selling and investing in any monetary markets could contain critical threat of loss, Mr. Maund recommends that you simply seek the advice of with a professional funding advisor, one licensed by applicable regulatory businesses in your authorized jurisdiction and do your personal due diligence and analysis when making any sort of a transaction with monetary ramifications. Though a professional and skilled inventory market analyst, Clive Maund isn’t a Registered Securities Advisor. Subsequently Mr. Maund’s opinions available on the market and shares can solely be construed as a solicitation to purchase and promote securities when they’re topic to the prior approval and endorsement of a Registered Securities Advisor working in accordance with the suitable rules in your space of jurisdiction.


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