Alexco Resource (AXU) engages in the exploration and development of mineral properties in Canada, primarily in Yukon Territory, and provides consulting and project management services in respect of environmental permitting and compliance, and site remediation and reclamation in Canada and the U.S. Alexco has a current market cap of $582.46 million and the stock is up about 20% so far in 2011.
If you take a look at the chart for Alexco Resources, you'll see that this stock has now started to break out above some recent overhead resistance at around $9.72 a share. This is another big breakout in the precious metals complex because it means AXU is now trading at brand new all-time highs.
Once again, the move is coming on monster volume. During the last two trading sessions (both up days), volume has registered 1.4 million shares vs. the three-month average volume of 657,000 shares.That's exactly the kind of volume you want to see when stock starts to print new highs. With that in mind, I think this stock has huge institutional support and its heading significantly higher. The trade here is to buy it on any weakness and only sell it trades back below $9.72 to $9.41 a share. That will give you a good risk/reward outlook, and if AXU wants to keep uptrending, you'll have exposure to capture the gains. To see more precious metals stocks that look ready to take off, including Claude Resources (CGR), Jaguar Mining (JAG) and Gold Resource (GORO), check out the Precious Metals Stocks Set To Explode portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.
Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV