By The Gold Report
Technical analyst Clive Maund charts this miner with a gold project in Arizona and explains why he believes its stock is a good buy.
Kerr Mines Inc. (KER:TSX; KERMF:OTC; 7AZ1:FRA) has notso farresponded to the rally in gold of recent days, but the pattern looks most favorable with it having consolidated a sharp high volume rally at the start of last month, that allowed its 50-day moving average to catch up and rise through its 200-day.
The company has reported a run of good drilling results that augment the value of its Copperstone Mine in Arizona, and just came out with more very positive results, that are thought likely to get the stock moving.
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As we can see on its latest 6-month chart, although it has not so far responded to gold’s advance, it appears to be completing a bull Flag, so there is considered to be a good chance that the positive drilling results will get it moving again. It is at a good entry point here and rated an immediate buy. Another reason that it is at a good entry point is that this is stock that can be expected to take off like a rocket once gold breaks above $1400, a development that is expected to occur quite soon.
Kerr Mines website.
Kerr Mines Inc, KER.TSX, KERMF on OTC, closed at C$0.155, $0.12 on 4th June 2019.
Originally posted at 7.50 am EDT on 5th June 2019 on CliveMaund.com.
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1) Clive Maund: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. CliveMaund.com disclosures below. I determined which companies would be included in this article based on my research and understanding of the sector.
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Charts and graphics provided by the author.
The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund’s opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund’s opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.
( Companies Mentioned: KER:TSX; KERMF:OTC; 7AZ1:FRA,