all time highs, chart & opinion
Okay, all time highs today, same as 2 months ago.
2 months ago the share price for NCM went from over $21 to $17 within 3 weeks.
Is it different this time???
Yes it is in many ways.
1st & foremost, Volume is much higher.
Volume in the previous run to $21 was much, much lower.
The drop from ~$20 to $17 during October showed large volume.
We again see large volume last week, but this time over $20.75
RSI & MACD combined with MACD suggest NCM still has quite someway to go before it reaches an overbought situation.
Consolidation of the Gold Sector is a certainity & has started already.
$30 per share for NCM in such a climate would be a bargain for any purchaser.
Directors at NCM have already made clear they would reject such an offer.
NCM is super cheap when compared to overseas peers.
It is no surprise then that most large buyers of NCM are from overseas.
Small time Aussie investors could do much worse.
Potentially NCM is the best buy in the ASX 200.
Risk/Reward ratio's favour NCM holders.
NCM is a proven performer.
Stick with winners, in the winning industries.
Cheers.
