Just reading the technicals and the share price movements, NKP hit 27cents earlier in the day abeit extremely low volume but failed to break through and volume is extremely low.
While its good signal that the buying units have built up however seems most are there or support. Or the other explaination is that some news is expected but the confidence is not there yet to go in so potential buyers are in accumulating mode.
Tomorrow is a friday and does not look like the much anticipated Joint Venture is done and to be delivered.
Some good news I can see is that there seems to be buyers setting their sights on NKP so a breakout is on the cards. I can see that if the US, European or world markets in general has another violent fall then NKP share price is going to get hammered.
Very tempted to buy more at this stage however I would rather wait for the break-out (which must have volume and upward volatility). I may end up averaging up however I find this is always better than averaging down.
Good Luck to all
NKP Price at posting:
25.5¢ Sentiment: None Disclosure: Held
