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Equity in Focus: Kirkland Lake Gold Ltd (KL) Channel Index Runs to Hold

Let’s take aim at some longer term technical indicators on shares of Kirkland Lake Gold Ltd (KL). The current 60-day commodity channel index reading is Hold. The CCI indicator is typically used to scope out overbought and oversold levels. The CCI signal direction is Bearish. Let us now turn the focus to some medium-term indicators on company shares. The reading from the 40-day commodity channel index is currently Hold. As previously noted, the CCI indicator is mainly used to identify oversold and overbought levels. The signal direction is currently reading a Falling.

Stock market reversals can occur at any given time. Sometimes, these corrections can provoke ominous forecasts from the investing community. With the market still riding high, it is important to note that market corrections can be common happenings in bull market runs. Investors may use these opportunities to buy some names at discount prices. As we move through earnings season, investors will be watching to see how companies have fared over the last quarter. Investors may want to examine sell-side analyst revisions in the weeks and days prior to the report. Investors and analysts will both be eagerly watching to see if the company can beat expectations.                                                           

Investors are often closely following recent stock price support and resistance levels. The support is a level where a stock may see a bounce after it has dropped. If the stock price can break through the first support level, the attention may move to the second level of support. The resistance is the opposite of support. As a stock rises, it may see a retreat once it hits a certain level of resistance. After a recent look, the stock’s first resistance level is 36.06. On the other side, investors are watching the first support level of 35.11. Investors may also want to take a longer-term look at company shares. According to the most recent information, the stock has a 52-week high of 36.74 and a 52-week low of 14.56. Staying on top of longer-term price action may help provide investors with a wider scope of reference when examining a stock.

The company’s current book value is 6.02. The book value is the per share value of a company based on its equity available to common shareholders for the trailing 12 months. Shifting gears, the company has a current interest coverage value of 109.93. This value measures a company’s ability to honor its debt payments. When the value is below 1, the company may not be generating enough cash from its operations to meet its interest obligations. Tracking current trading session activity on shares of (company), we can see that the stock price recently hit 35. Since the start of the session, the stock has managed to touch a high of 35 and drop to a low of 35.

Individual investors have the tendency to migrate towards certain stock strategies that have been successful in the past. While following previous strategies may be profitable, investors have to be ready for sudden market changes. Most investors will rejoice when stocks in the portfolio catch a hot streak. On the opposite side, investors may become highly dejected when they experience a prolonged losing streak. Sometimes, previously successful strategies run their course and they no longer work. Investors may benefit greatly from being able to make adjustments when the market takes a turn for the worse.