North American Palladium Breaks Out (PAL)

Shares of North American Palladium Ltd. (AMEXL PAL), often used as a proxy for Palladium futures by equity traders, is popping today, currently trading at $4.09, higher by 2.76% on the session.

PAL was recently trading below $4.00, which is a key resistance/support level. With shares moving above that level, a $4.42 price target has been activated. This gives shares 8.06% upside over the very near-term.

Jump in while you can.

North American Palladium Ltd. is a Canada-based precious metals company with assets in mining in Canada. The company owns the Lac des Iles palladium mine in northwestern Ontario, the Sleeping Giant gold mine in northwestern Quebec, several exploration properties in the Abitibi region of Quebec, and has a 50% joint venture interest in the Shebandowan property located 100 kilometers southwest of the LDI mine. On May 26, 2009, the company acquired the Sleeping Giant gold mine in the Abitibi region of Quebec through the acquisition of Cadiscor Resources Inc.

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