TGB Taseko Mines Major Breakout From Resistance New Target $7
Taseko made a major move on Friday as it clearly broke resistance and is heading to my next target of $7. This stock was originally recommended at $1.50 when copper was extremely low and The Prosperity Mine seemed like a pipe dream with a lot of environmental opposition.
Those are the times that are most attractive for a trader. When most of the media was bearish on commodities and inflation, the technical picture showed a clear base and a breakout. The original recommendation is linked here.
The picture is a lot different now at $6.
I am holding Taseko and am keeping a 15% trailing stop loss to protect my 300% gain.
Taseko is probably one of the strongest stocks this past year in the junior mining sector. I would not recommend purchasing at these levels as the risk reward scenario is much different from the past.