It appears to me that Barclays is selling down its holding of MCR for whatever reason(profit taking i guess)...as MCR of most of the nickel companies over the last 2 weeks has been very weak. Constant selling pressure whenever it looked like moving up...
considering the positive announcments from the AGM and the recent drill results it appears that some think she is fully valued.
Yes the nickel supplies continue to move up but that should affect all nickel companies. ...look at PAN (which i do own as well) they are moving along OK 2.50.
It does seem that my assertion of a large insto or hedge fund selling it down is consistent with its movements of late.
She closed at 1.99 today. Is it a breach of support and will it now move towards 1.80 where i will again top up.
MCR Price at posting:
$1.99 Sentiment: ST Buy Disclosure: Held
