This one is for the novice or inexperienced investors -
Here's my go at the probabilities of today's price action being as objective as I can given I'm a mid-long term holder on this stock and I am not actively trading it. Beware of comments and price post/predictions of those who are actively trading as they are likely to have a natural conflict of interest.
So...here goes:
70% - Probability that 5.1c will hold today as this is the boundary of the lower trend line of the ascending trend we have been experiencing for approx the last 2 weeks. There should be very strong resistance off this trend line... If it breaks below it is highly likely to dip below for a very short time before kicking back up above it
15% - Probability that the price will drop to the 4.4-4.5c region this was the area where we had prev support on the last leg up about a week ago
5% - That it will drop below this level.
60% - Probability that when the price eventually hits 6.4c it will bounce off and not penetrate this level initially... I think it may take several attempts to break through this area. We may see a a cup/handle or other bullish formation before breaking through...It is possible that we will need to see a +ive Ann to break above this area.
All is IMHO DYOR
NMR Price at posting:
5.1¢ Sentiment: Hold Disclosure: Held
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