Ichimoku Canadian Stock Trade of the Week 9-10-13 : Kinross Gold Corporation Sell.

On Sept. 10, 2013, we received an Ichimoku 3 multiple time frame Buy email alert on Kinross Gold Corporation. for the Canadian Stock market.   The email is shown below.

 

After a few days of consolidating, the stock was looking to break on either side. As soon as the price broke on the bearish side, it had a strong momentum as a support.    There was an ideal opportunity to take a break out trade as there was a support of the trade by a 3 time email alert to sell.    The entry was at $5.51.  Initial stop of $5.62, and a target of $5.22 was set.   That gave us a  risk of $0.11 per share. The trade was exited out with a profit of $0.29 per share.   There was a Risk : reward of 1 : 2.64.    Here is the chart setup:

 

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About the Author Vinesh Midha