A few days after we went for Heatherdale Resources
along with two other copper stocks it broke higher on the heaviest volume in its history by far, but not knowing how far it would react back following this breakout move, we stayed long, and as we can see on its latest 6-month chart we could taken profits near the top and bought it back around the current price, if we had been fast enough, which would have been worth doing. However, since we didn’t we should now stay long, as it looks like it will soon take off higher again from here, and the purpose of this update is to point that out, and also make clear that with the action in the stock continuing very positive, this is a very good point to add to positions or buy for the first time. It is quite normal for a stock to react back to the breakout point following a breakout and when it does it is generally an excellent point to buy, especially as you now have the benefit of knowing that the stock has already made a convincing breakout and be confident that the next runup should take it past the peak of the move following the breakout.
We therefore stay long and this is a very good point to add to positions or buy if you haven’t already.
Heatherdale Resources website
Heatherdale Resources HTR.V, HTRRF on OTC, closed at C$0.88, $0.737 on 9th April 21.
Posted at 8.55 pm EDT on 11th April 21.