Amazing strength today in the context of a sharp pullback in the platinum price and broader market in general.
The clues were there on friday with a rejection of fridays lows and a close on its high for the day.
The D&D update regarding a BFS announcement expected for this week seems to have sparked buying in anticipation of a positive release.
Here is a Daily chart from Friday.
- Shows the rejection of the lows in the daily support zone where the stock reversed back into the daily trend channel.
- On the back of some positive news or some strength/stabilisation in the broader market expect NKWE to make a bee line for 78 cents.
- Daily stochastics also back in the buy zone having alleviated an overbought condition, suggests that the momentum is there for the target to be reached.
Currently at 61 cents - Looking very solid.
NKP Price at posting:
61.0¢ Sentiment: LT Buy Disclosure: Held
