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Niko Resources Ltd NKRSF

Energy Oil & Gas E&P
Niko Resources Ltd is an oil and natural gas exploration and production company.


GREY:NKRSF - Post by User

Niko Resources Ltd
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Comment by Cokedrunkon Sep 12, 2012 1:47pm
297 Views
Post# 20353071

RE: RE: RE: Insider

RE: RE: RE: Insider

Matthew, I think you can probably get it below $9 on Friday.  But the problem I see from the stock is that it open at $11.93.  Which is above June 27 low of $11.60.  So from an oversold perspective.  I don't think it is oversold.   It is just trading at right value from the bad news.   Now if it had open at $9 and drop to $7.  Follow through with selling that takes it down to $6s.  Then you might be able to make profit from it climbing back to $11 from there. 

Almost tempted to buy it from the selloff myself,  but after revealing charts decided against it.  Better to wait for the next set of bad news that could take it to oversold level or wait for good news, that will reverse trend. 

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