The stock has fallen just short of 30% in the past few weeks from $14.17 to $10.01 since 27 August. What more fall do you want at this point? Past 3 days candles show downward momentum has subsided dramatically.
Shorters are becoming greedy, talk of capital raising and targets down to 8 is too abundant. Too many are expecting more downside.
Means time has come for a bounce and quick long trade.
Gold may surprise all and shoot up. As many have said recently, they don't understand gold price. It is the things that you don't understand that will surprise.
Bought yesterday and today Qty 5000 at $10.12, thanks to all the negative talk.
I think $7.30 is possible, but not yet, first a bounce.
A terrific short term long opportunity presented past 2 days, during all of the negative posts.
Time for shorts to close shorts, otherwise you will lose some of your recent gains.
NCM Price at posting:
$10.14 Sentiment: Buy Disclosure: Held