RE: Moly and GoldNice chart Bandit69 and a very good point about the 200 day moving average turning positive.......that kind of thing if confirmed over the next couple of weeks should lead to a mulit month rally.
As with ANY chart (commodity, currency or stock) that has had a big move in one direction for an extended period of time there is ALWAYS a retracement of some magnitude. The Fibonacci retracement levels as they are known are usually 38%, 50% and 62%.........the weakest level would be 25% and the extreme would be 75%.
In the case of NKA the decline in s/p was from $1.27 to $0.02 for a drastic decline of $1.25 over a 2 year period. The retracement levels based on Fibonacci would be as follows:
25% = $0.335
38% = $0.495
50% = $0.65
62% = $0.80
75% = $0.96
As a general rule of thumb most retracements reach a point somewhere in between the 50% and 62% levels and then settle in the 38% to 50% levels and trade there for some time. Given the prior movement in NKA shares a chartist would look for the stock to rise somewhere between $0.65 and $0.80 when the promotion and enthusiasm hits it peak then settle back down to a longer term range between $0.50 and $0.65 while the company develps its projects.
The readers digest version is that at 15 cents it is very cheap and you should either hold onto the shares you have or add more at any price below $0.30. Then when the price hits $0.50 start scaling out slowly and be completely out by the time it hits $0.80 (if it makes it that far).