Stock has bounced nicely from support at 1.7c on the 5 year chart.....
It rallied to 5c on Friday...which is resitance.
It is likely to pull back and do some filling before moving any higher.
some of the retracement was done intra day on Friday when it pulled bakc to close at 4c.
However, it would be reasonable to expect a consolidation.
Once the price clears 6c I believe it can rally to the 10c-12c region without too much problems.
Of course it may require some further announcements, but the ongoing drilling and results are likely to keep fuel on this fire for a while still.
I agree with some of the sentiments which have been posted on this site for NRU. It appears that the stock is unvervalued, relatively tightly held with not many shares on issue and building a resource which may warrant a market capitalisation significantly higher than it is right now.
However, some players are short sighted and impatient and expect everything to happen tomorrow and sell out for quick gains.
The reality is most companies take time to build awareness and relaise their potential. I think this will be no different.
Situations like SIR are few and far between.
I would rather see the company make all the right moves and yes a market cap of $50m = say 20c is achievable in the next few months.
But if things go right here, we could in for much much more....
NRU Price at posting:
4.0¢ Sentiment: None Disclosure: Held
