OTCPK:MEAOD - Post by User
Comment by
sapiensunuson Nov 21, 2012 12:08pm
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Post# 20627402
RE: RE: Gold going lower as is economy
RE: RE: Gold going lower as is economy NiceGuy...
NOK appears to be entering a sweet spot chart wise… If the fundamentals are improving as you suggest (I do not follow this company and would have to research more because it’s looking good). It appears to be a good buy on weakness as it in the early stages of defying a long-time downward trend (5yr.). Remember, this is a tough business and very competitive. Although NOK was once at sixty – it doesn’t mean that it will get there again. Until more recently it was headed for the dreaded reverse consolidation.
If you are so inclined - speaking from experience (I have mentioned similar strategies before) take a position on the next pull back. Slowly add to it as the chart moves into a positive trend (good old healthy volume combined with higher highs and higher lows). Continue to buy on weakness IN AN UPTREND ONLY. Keep SL’s if it doesn’t form this pattern because if the product has a bad launch it’s going down and FAST. The good news is that it is liquid and you’ll have an easy out.
Good Luck