MND trade ideas
Mandalay Resources - Bullish BreakoutThe multimonth range that started in October 2018 was broken to the upside at the end of April.
The confirmation pullback with large selling volume, along with buyers coming in today suggests a low was formed and a new rally is now in.
MANDALAY RESOURCES Speculative Buy Bears took the control of the share unfairly when one of the three mines of the company (Cerro Bayo) suffered a flooding incident last year. But from misfortune grows opportunity, and Mandalay share price has been slidding lower and lower until reaching a current valuation which is totally unjustified. In addition, the share price is currently drawing a rebound with bullish implications which may leads the title to climb up to pre-incident quotations. Mandalay Resources is a speculative buy, and I am LONG with a target price of 0.59.
Good luck fellow traders
