This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Metals Stocks to Trade for Gains This Fall

Comstock Mining

Small-cap gold and silver company Comstock Mining (LODE - Get Report) is forming a similar setup right now, albeit without starting off with a downtrend first. Comstock has been rallying hard since June, jumping more than 64% since the start of the summer. Despite the moves that LODE has already made, the triangle setup points to more upside.

>>5 Oversold Stocks Ready to Bounce

Like PKX, Comstock is forming an ascending triangle. The most notable difference is the fact that this pattern is coming in at the top of a rally rather than after slipping lower (LODE's is a more textbook example of an ascending triangle). For this stock, the resistance level to watch is $3.20 and uptrending support has moved more or less in line with the 50-day moving average. Traders should take Monday's breakout through $3.20 as a buy signal.

When looking at technical setups, I think it's useful to think of them in real terms. For a triangle like LODE, the setup is being made by a glut of supply of shares above $3.20 (our resistance level) and increasing demand below to create the uptrend. Monday's move higher means that all of the excess supply has been absorbed by increasingly eager buyers.

With that "ceiling" removed, traders who are willing to take on the added volatility of a true junior miner have a strong signal to go long.

3 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Submit an article to us!
SYM TRADE IT LAST %CHG
AU $11.48 0.39%
LODE $0.72 -2.60%
PKX $60.22 1.80%
SLW $20.26 0.47%
VALE $8.02 -0.62%

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs