Beautiful Speculative Play: Northern Dynasty Minerals (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.