Trade Setup
Mountain Province Diamonds Inc., through its subsidiaries, focuses on the mining and marketing of rough diamonds worldwide. Its primary asset is its 49% interest in the Gahcho Kué diamond mine comprising four mining leases covering an area of 10,353 hectares; and holds a 100% interest in the Kennady North project consisting of 22 federal leases and 97 claims covering an area of 106,202 hectares located in the Northwest Territories, Canada.
Stocks found in this category are low priced stocks priced between .40 and $5, with at least 50k shares of average shares trading per day. The stocks are pausing a trend either up or down, with a new bar over the prior day open or close. These are high reward to risk stocks with the potential for very sharp moves. A stop should be maintained at the low of the prior day. Target prices for exits can be determined by using the next level of resistance higher or by using Fibonacci resistance levels found using TradersPro.
