@martis - that graph's nearly a freefall shot if ever I saw one.
thing is (and most won't want to hear it) there's actually nothing special about the 6.7c point. As you know, it's just a number associated with a gap which IMO will be filled. I'm not expecting this week's update figures to cause any more than a blip - something else has gotten hold of NOR - rationality?
in severe cases of retracement there comes a point at which even TA becomes mute. Then the question has to be asked "Well what's NOR worth anyway?" hence you need to revert to FA. And I don't know enough about NOR's tech to be able to put a price on it. Except for a very basic calc which goes something like.... NOR's current revenue could be about $2m p.a.? (rough) - it has no earnings - let's multiply that by 20 (generous) and you come up with $40m. That really generous number then gets divided by the billion+ share register and you get 4c.
yes, I'm saying NOR could hit 4c. I'm not saying I expect it to at this point but it's a possibility. Interestingly from a TA POV there is a small gap around 4.7c? or something like that.
there is no clear reversal point yet, not even at 6.7c, IMO.
We've both seen countless numbers of stocks which have completely retraced back to their origins, and this could be about to happen with NOR.
In all of this, I still like NOR's longer term chances, difficult though it is to see the wood for the trees. After this series of falls I would not expect to see any dramatic bounce unless a left-field event occurs.
them's the breaks....
NOR Price at posting:
7.7¢ Sentiment: None Disclosure: Not Held
