NCM appears to be heading for a 747 takeoff or a 707 landing.
These two levels (in cents per share) are critical for its health. They in turn depend on gold's health.
Gold has spent the last three weeks teasing and getting teased by the low $350/oz level.
Another inside range week would make the week after an exciting one, becasue gold must make a break one way or another.
NCM's sin like many other gold stocks would be that even if gold breaks on the upside, their PER are way overstretced at the momenet and would be even more stretched if gold goes up.
The $7.47 level is therefore crusial to its health.
IF and WHEN it gets there would reassess based on rejection or acceptance of this level.
Arhidas Neither long or short the stock
NCM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
