We have “stalked” RRL for a few weeks targeting a dip towards $4 to provide investors/traders a leveraged gold play. Importantly it was always going to look bad if/when it got to our buy target, hence we often trot out the phrase: “Plan your trade and trade your plan” – we’re active investors but the saying rings better with trade! After falling ~18% the gold miner is looking weak, but it’s approaching our “Buy Zone” nicely.
- We like the risk/reward towards RRL, around 3-5% lower; it’s getting close now and is a likely candidate for the Emerging Companies Portfolio.
MM is bullish RRL around $4.15
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