I've studied some behavioural finance and it's very interesting and you can see how it applies on NXR at the moment.
A few weeks ago NXR looked terrible sitting below 7 cents, hardly any buyers and stacked sell side. Then suddenly we moved above 8 cents again. As we breached 8.8c and made a new 52 week high everyone was cheering.
Now we are all supposed to be depressed because we fell from intraday high of 10.5c to 9.2c, still above the previous breakout. As martis mentioned on the chart thread, it broke out for a reason.
Unless the news is not well received it makes no sense to think this is it, it's all over and we will fall back to 5 cents. Too much progressed has been made and after phase 2 the company can really start to make the rounds, here and overseas.
And as mentioned we've had no blowoff top, no insane rises like MNW, PSY, MBN and that crazy CYP. Sure, I wish we had those crazy punters in NXR but no. It's been a bit choppy with consolidations and corrections.
And when it comes to behavioural finance HC also makes every emotion worse. Sometimes it's good just to take a break.
I am 100% sure even PDN looked awful many times as it went to $10 during the mining boom.
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