Magellan Minerals Ltd MAGNF

Didn't notice until now

[TAPicks]

Here's one that I didn't even notice until now on my scans. It has posted a nice run up over the last3 months and has pulled back from its recent top failing support and returning to it. This has allowed the indicators to go into the oversold area and have begun to turn upwards. Magellan Minerals is a gold exploration company and gold stocks have done well in the recent past.

I'd like to see more volume on this stock as its typically below what I look for, but could still be a good play. Entry would be at current share price of $1.20 with a stop loss around $1.14. Initial target would be about half the distance to the top, or about $1.33 for gains of 10.8% followed by the recent top at $1.45 (I'm not counting the wick portion of the top) for gains of 20.8%.

See chart here and other weekly picks here.

Cheers!