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Beautiful Speculative Play: Northern Dynasty Minerals (NAK)



August 29, 2012 – Comments (0) | RELATED TICKERS: NAK

As you know by now, I don't buy a lot of stocks under $5.00. That doesn't mean that I won't, but it really has to catch my eye!

Well Northern Dynasty Minerals (NAK) has done just that!

It has been on a downtrend since January of 2011, and since June of this year has spent its time forming a very strong base. 

And now it is breaking out. Actually, it did so yesterday, but pulled back again today, offering another shot at getting long. 

Now  remember, these are high-risk plays, particularly with it being a miner. But this stock is breaking cleanly above resistance, with volume, and there seems to be a clear path for it into the $3's. 

Day-Trade? Sure. Swing-Trade? More reward opportunity, but then you have the overnight risk that goes with it. 

Here's the NAK Trade Setup

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