ncm in the $8's, page-7

Fastrade,

NCM may appear oversold on technicals but the way it's behaving it looks as though it's got a fair bit further to fall IMO.

There was virtually no support at $9 & certainly no double bottom counter rally from the June low. IMO the RSI & Stochastics etc. could remain oversold for another week or so, at least while the shorts are in total control and try to find some sort of a temp. bottom.

Look closer at the 3 wave count from the August high. If Wave A = C in length, then next stop should be $7.20 @ Dec 4 IMO. i.e. another week of pain ahead before we see any kind of meaningful rally.

The XGD has also just moved below the magic 2000 double bottom on the close. Uh oh, attention ALL Aussie gold stocks, watch out below if we can't hold onto this no.

Gold also remains below $1250 as I write :-(

Note: My analysis and opinion are mine only and in no way am I offering advice of any kind. Please DYOR.