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TMCNet:  North American Palladium Up 8.5%, Shares Break Through Resistance (PAL)

[January 02, 2013]

North American Palladium Up 8.5%, Shares Break Through Resistance (PAL)

Jan 02, 2013 (SmarTrend(R) Spotlight via COMTEX) -- North American Palladium (AMEX:PAL) is one of today's best performing low-priced stocks, up 8.5% to $1.41 on 1.1x average daily volume. Thus far today, North American Palladium has traded 2.0 million shares, vs. average volume of 1.8 million shares per day. The stock has outperformed the Dow (8.5% to the Dow's 1.8%) and outperformed the S&P 500 (8.5% to the S&P's 1.8%) during today's trading.
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North American Palladium Ltd., explores for and mines platinum group metals and certain base metals through its wholly owned subsidiary, Lac des Iles Mines Ltd.

There is potential upside of 82.6% for shares of North American Palladium based on a current price of $1.41 and an average consensus analyst price target of $2.57. North American Palladium shares should first meet resistance at the 50-day moving average (MA) of $1.43 and find additional resistance at the 200-day MA of $1.98.

North American Palladium share prices have moved between a 52-week high of $3.21 and a 52-week low of $1.15 and are now trading 23% above that low price at $1.41 per share. Over the past week, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 2.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of North American Palladium on September 24th, 2012 by issuing a Downtrend alert when the shares were trading at $1.86. Since that call, shares of North American Palladium have fallen 30.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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