GREY:NKRSF - Post by User
Post by
SkyHighROIon Oct 11, 2013 3:20pm
156 Views
Post# 21811624
RE: In for a nibble
RE: In for a nibbleNiko is rocking!!! Today's stock moves can be seen as very bullish. 4 Days ago, Niko traded at $2.41 and was in extreme over-sold territory. I pointed out yesterday that the risk/reward ratio in the $2.50's..$2.60's would bode well for the longs (sorry facts).
Typically, when a stock that is presumed to have increased risk/higher insecurity, that bounces off the bottom up ~15% in from Monday to Thursday, you would see a sell off on Friday (ESPECIALLY if the Friday lands on a long weekend). I think that is what happened this morning...a SMALL selloff which dropped the stock to $2.76 (on which I gobbled up some more...*don't mind the pun*).
But Niko's Friday selloff was short lived. And instead it went up 20% from $2.76 to $3.34 -- all on a Friday before a long weekend.
I rest my case -- Niko is in the Very Bullish Territory.
Enjoy your weekends everyone... the rally has just begun. Likely NR next week. Hold on to your hats.
- Sky