Canada Nickel Company Inc V.CNC

Some CNC target numbers... Sentiment has changed.

[apapas1973]

I'll leave everyone with a pre Christmas read. Since most will be indoors tomorrow with the brutal weather coming... There's a lot going on in the markets. I'm getting nauseous from all the gyrations. We knew there would be a "Santa Claus rally". Just can't tell whether it's done. The US dollar is overdue for a counter trend rally. In theory, That should push the metals and markets lower for now. It's what happens next thats important. It'll decide the longer term fate of the dollar which will have consequences on everything. Enough of that... As it stands with CNC, I believe we have a change in sentiment. Some key things I'm noticing. Aside from the major divergence that we've discussed several times already,  the moving averages converged and are telling me one thing. We're about to get an explosive move. But in which direction? My strong opinion is obviously up based on certain things that I look for. Without getting too technical, the moving averages are starting to curl up and they are serving as support now. Today was a perfect example. We bounced off the one. The last time we saw the short moving average curl up and cross above the larger with this much spunk, we saw the price of CNC go from 220 to 400. And that was without positive divergences. History may not repeat but it rhymes. Lol. I actually think this move will be much more substantial to the upside. I'll say it again for the millionth time, we're going into the 2's. 215-220 with the potential to overshoot. The 200 day continues to fall but it looks to me like it's now lining up with the top of the consolidation box around 185. Which is very interesting. I initially thought we would get rejected from the 200 day when it was much higher. I think now we bump it along with the top of the box and we wake up one day with a huge breakout gap above both. Getting in front of something like that would be like getting run over by a freight train. This bloody thing is setting up for a monster move. I'll even go a step further. I think we hit major, major, long term resistance at 375-385 by about mid February. I'm ballparking.  Could be sooner or later depending on CNC news and general market sentiment, recession fears etc. I think if we can break above that 375ish mark, to me it will confirm we're in a new CNC bull market. But I need to see it break above a certain trendline. I think we then turn down, test the 3 level and get ready for the next move up. Which is a measured move to about 550. There's a lot more I can fill in but this is too long. Lol. We'll save it for later. GLTA.

[rockstar]

Hi Apapas 1973 just wanted to thank you for posting, you seem to have a good understanding on whats going on!