Our ALGO engine triggered a buy signal for NST into yesterday’s ASX close at $6.18.
This “higher low”pattern is referenced to the low of $5.60 posted on February 8th.
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Their most recent quarterly report showed that cost of production was stable at $1075 per ounce, which still reflects a healthy operating margin.
Further, NST expects to lift annual production to 600,000 ounces by the end of the year. The company also reported $439 million in cash and no bank debt.
The daily charts show solid support at $6.00 with a medium-term upside target of $7.10.
Northern Star Resources
