Market Trend Definitely downward. NKL very oversold at 25 RSI. Everything is getting beaten up as people expect a repeat of last year and are exiting stage left ASAP in the junior space. Can't blame management when the market is so finicky... Name me a junior that didn't rally at christmas and is giving back now... TCK.B is a great proxy.
I think that the selling wave we are seeing will not be as strong as last year and this time, just maybe, sideline cash is waiting to catch the bottom and send things back to a normal valuation.
in a normal market nkl is a 10 dollar stock if the public information is correct. But we havent seen a normal market for a while now, and I don't anticipate one in the near future. Eventually we will get there and at that time things are going to be lookin pretty for a lot mroe than just NKL.