Thanks for your TA which is now a part of my research into the daily trading activities of CNJ investors on the ASX/Chi-X (I am an Aussie based in Frankfurt).
IMHO, there was a test of the 6 cent level today (actual low of 5.9 cents). IMHO, this was very important i.e. a close under 6 cents would have been a very weak signal.
As you pointed out, most of the action was nearer the lower bollinger band. Strong buying near the lows?
With 48.5 million shares changing hands today, there was again fairly high trading volume, which IMHO is a clear sign of continued and very considerable investor interest in CNJ (not really a surprise due to the impending MTJV001 assay results, as well as a potential update from East Greenland).
I would also add that there was fairly high volume in the closing auction period today (3,820,866 shares were traded), which IMHO looked like someone mopped up most of the shares that were on sale in order to get set. In this regard, tomorrow could be a very interesting day.
Cheers!
CNJ Price at posting:
6.1¢ Sentiment: Buy Disclosure: Held
