Hi All
Just letting you know I've been sliding out of the majority of my holdings in NAG at these relatively good prices. All nice and profitable which is good. Have kept a small holding though just in case something big happens, plus I gotta admit I enjoy the forum here so no-one can say I don't have a legitimate interest when I pop back in.
Major reason for getting out is that I'm shifting focus to another area of the markets. I do however worry a little about the US markets due for a correction and this will impact the Aus market as well so that was part of the timing.
So I'm not disappearing as such, just a change of focus.
Attached a chart above for interest. To me it looks a mixed bag in the short term and I'll explain. It's had a significant run so it should typically look to consolidate those gains. I don't like the gap at 12c as gaps have an uncanny knack of being filled even when it looks unlikely. It's also showing a divergence between the share price and the RSI which is a bit of a negative as well. On the positive, if you look closely at that pattern at top, it could be described as an ascending barrier triangle which is quite a bullish pattern. And there is no doubt that this is showing significant relative strength compared to the rest of market. The recent sharp sell-downs in the market in general hardly caused a blip in NAG's chart pattern and that's pretty significant to hold steady in an across the board sell-off.
All up though, it looks obvious that this run up is an impulse wave and therefore any declines should be just corrections in the larger and more dominant upward trend.
Looks good for those prepared to ride out a few blips along the way which is all part of the fun.
Good luck all, it's good to see rewards for those that had the guts to get in real early (like Mog, Jet Ant & Muz and some others) when there was no interest, and also those more recent who held tough through the big sell-off last year. Looking forward to you all seeing continued success.
