High 50s???? Do you actually know anything about the stock?
If the stock was ever going to have a big drop, it would have been today just after the announcement of the share placement. Instead what we saw was the share price slip to 77c at the beginning of trading but quickly bounced in the 80s and stayed there.
There was a 70k buyer at 82 and 83c, which I have already mentioned on here earlier today. Thats high volume for a stock which does not even have 20 million shares on issue.
I personally hate technical analysis. People try to be really sophisicated and smart by analysing charts trying to make predictions that most of the time are incorrect. For Blue Chips it can be ok but for small cap stocks such as NMS, its fundamentals that drive the price (and day traders unfortunately).
If NMS release a licencing agreement contract, (which management have hinted will happen very shortly) I dont care what people's charting programs say, NMS will fly through the roof.
It's a very tightly held stock, 18 million shares on issue and all NMS shareholders on HC have indicated their long term intentions of this stock. Very shortly all the traders will be squeezed out and replaced with fair dinkum long term investors who believe in the NMS story, like the ones that we see here on HC.
Cheers
NMS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
