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AU, KL, PAAS, WKHS — Stock Charts to Watch

Charts of the Day video for Tuesday August 27th, 2019


AngloGold Ashanti Limited (AU), one of my favorites, broke out around the end of May on a breakaway gap at 13.90, and now this stock is 23.66, which was the high on Tuesday as they jumped 98 cents, or 4.35%, to 21.50, on 4.2 million shares. I’m looking at the overall pattern where prior resistance may have been and 29.50. This is an area of concern. A breakthrough here, and if it extends the move, it could probably get it up to 30. For now, though, keep an eye on resistance at 23.50, because it might pull back, and then get to 31-32, but be careful.

Kirkland Lake Gold Ltd. (KL) is my favorite stock. It went to 50 for the first time to 50.16, popping 2.31, or 4.84%, closing at 49.99, on 2.1 million shares. It looks like this stock is not done yet. I would not be shocked to see the 58-60 range, which I talked about months ago, tested in the coming weeks.

Pan American Silver Corp. (PAAS), a precious metal stock, and one the leading silver stocks in the world after multiple waves up. Depending on how you count the waves up, this stock may have been seven waves up. To me, it’s long in the tooth. The weekly chart shows multiple tops. It’s going to create resistance in the 15.64 zone. If it gets through that, it could challenge 16-17 and the double-top around 21.

Workhorse Group Inc. (WKHS), one of our swing trades, which is recovering from one of our early Aug hits when it slid back down to 3.70, or so, has now made it back up to Tuesday’s high at 4.58. It’s been a good run up the last two and a half weeks. On Tuesday, it was up 23 cents, or 5.4%, to 4.49, on 3.2 million shares traded. It looks like it wants to challenge the multi-year high at 5.37, set at the end of July, and then move onto 6 1/4, and then 9-9 1/2.

Stocks on the long side included Activision Blizzard, Inc. (ATVI), AngloGold Ashanti Limited (AU), Bitauto Holdings Limited (BITA), Caleres, Inc. (CAL), Coeur Mining, Inc. (CDE), Cardlytics, Inc. (CDLX), Eidos Therapeutics, Inc. (EIDX), Fossil Group, Inc. (FOSL), Fastly, Inc. (FSLY), Direxion Daily Jr Gld Mnrs Bull 3X ETF (JNUG), Kirkland Lake Gold Ltd. (KL), Direxion Daily Gold Miners Bull 3X ETF (NUGT), Pan American Silver Corp. (PAAS), Plus Therapeutics, Inc. (PSTV), VelocityShares 3x Long Silver ETN Linked to the S&P GSCI Silver Index ER (USLV), Workhorse Group Inc. (WKHS), and Wheaton Precious Metals Corp. (WPM).




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