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North American Palladium(PAL - Get Report) is a precious metals producer that has been operating its flagship Lac des Iles mine located in Ontario, Canada. This company is in the business of exploring and mining palladium, platinum, gold and certain base metals. This stock is trading up 9.7% to $1.92 in recent trading.
Today's Range: $1.78-$1.95
52-Week Range: $1.47-$4.05
Volume: 1.9 million
Three-Month Average Volume: 913,747
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From a technical perspective, PAL is ripping higher here back above its 50-day moving average of $1.86 with monster volume. This move is also pushing PAL above some near-term overhead resistance levels at $1.80 to $1.84.
Traders should now look for long-biased trades as long as PAL is trending above some near-term support at $1.70 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average volume of 913,747 shares as bullish. If PAL can hold its trend above $1.70 and above its 50-day at $1.86, then this stock has a great chance of making a run at its next major overhead resistance level at $2.18 or its 200-day moving average of $2.50.