GREY:NKRSF - Post by User
Comment by
mining_pays_my_billson Oct 24, 2014 3:12pm
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Post# 23059332
RE:0.30 going to drop today, enter the 0.20's
RE:0.30 going to drop today, enter the 0.20'sTechnicals are good, but don't always give the true picture. Just like analysts targets they're based on status quo operation, any market event can upset the technical chart either for good or bad. The raw deal in gas price was not reflected in NKO's technical charts. Before the price announcement, all technicals pointed upwards. Just check the posts below from a once avid trader of NKO shares...
https://www.stockhouse.com/companies/bullboard/t.nko/niko-resources-ltd?postid=22960816
https://www.stockhouse.com/companies/bullboard/t.nko/niko-resources-ltd?postid=22996234
https://www.stockhouse.com/companies/bullboard/t.nko/niko-resources-ltd?postid=22984070
https://www.stockhouse.com/companies/bullboard/t.nko/niko-resources-ltd?postid=23005598
https://www.stockhouse.com/companies/bullboard/t.nko/niko-resources-ltd?postid=23005407
I don't think anyone buying right now is doing so because they think NKO got a good deal on the gas price, they are doing so because of the prospect of NKO selling assets to strengthen their balance sheet, and this will presumably raise the SP. Where's that event on the chart, and what kind of an SP rise will it result in? No one knows. Stock trading inherently has a gamble aspect to it, technicals or not.