Canada Nickel Company Inc V.CNC

Strong indications of positive momentum coming

[apapas1973]

Yes we can all agree on the been here, done that scenario only to be disappointed. However, we are getting some very strong indicators of possibly an explosive break upwards. Not only are we getting strong support on the pull backs lately, but a lot of the indicators I use have really started to turn up. We barely tagged oversold the other day only to reverse immediately and are already heading towards the overbought on the RSI. It's been a while since we've seen such a strong recovery from the RSI. The indicators are also giving us very strong divergences between the most recent tag of 260 compared to the last time... They can only keep this under 3 for so long. All this does is create a spring like effect that propels the stock much further. I also wouldn't be getting too cute with the stock either. If you're a good "trader" and can make money swing trading, all the power to you. But the day will come when we wake up rubbing our eyes in disbelief. That's something I'd prefer not to miss out on. GLTA.

[EndZonefor7]

Good points apapas. The RSI on the weekly chart looks even more powerful with a resistance line smack at $2.95 where we closed.Could the pressure last couple of weeks be associated with SHL distribution shares selling off ?  https://stockcharts.com/h-sc/ui?s=CNC.V

[apapas1973]

Not sure endzone. It's possible. I think the SHL and NOB dividend shares are playing a role. It's a bit of a mess there. Cant remember when the paydate was on CNC divi shares from SHL. And whether people could sell them right away. The divi shares from NOB I believe still haven't been cleared up if I'm not mistaken. But for every seller there has to be a buyer. So if SHL people

[retool]

The CNC dividend shares from SHL hit people's account on wednesday morning. SHL still has 5.5M CNC shares. Nothing announced from NOB yet.