I've been chopping and changing a bit with NMR recently - won't go into all the details, but today's trading has offered up some bullish signs which is good to see for both investors and traders on the long side.
Daily selling momentum looks to have climaxed and the stochastic oscillator should begin to turn up this week. This supports Sandy's theory of a strong bounce over the next few days. Expect trading to be volatile if this is the case, because we will be pushing back up through prices (4.8c-6.4c) that were heavily sold into in the late stages of January. Looking a bit further ahead, a break of 6.4c would be very significant if it were to occur, but I'm sure most of you knew that already!
NMR Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
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