Chart of the Day - Technical Analysis June 15, 201What is interesting about Cline Mining Corp (TSX: CMK)?
Cline Mining Corp (TSX: CMK) closed at $2.44, up 1.24% on average volume. The company announced an $86 million equity offering on the 7th and the stock took an 11% hit, only to claw most of it back on the 9thafter the company filed a technical report. The stock breached the$2.50 level yesterday before failing to hold, but has bounced off keysupport at $2.25 and has been making higher highs and higher lows sincethe report. It trades on an RSI of 35.83.
There is good fundamental momentum together with decent support and alow RSI, making for an opportunity to open a long position.
