Ok down on the proven strong support line of 3.7c on Friday at the close. Question for today is will she bounce back off 3.7c back up or track below it.
I think we will bounce again up from 3.7c on the back of the rally in other coalers on Friday, especially AFR (closest PEER to NMR). If this does not occur then the AFR investors are just not doing their homework. If we do go below 3.7c then it will not be long before bargain hunters enter to scoop them up .
What I'm still looking for is a day (or series of days) where the price finishes in the upper 50% of the days range...When we get this we will know we have turned a corner...I think the fundamental change in crowd is very near. Clearly based on Fridays price action on coalers many believe they are undervalued.
...Also remember there may be new buyers entering the market this week on the back of the London presentation. But they will not be day traders but perhaps more investor types.
NMR Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held
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