I am definitely not a chartist by any stretch, however I thought I would post the NMR weekly chart (to generate discussion), which to my eye looks great for medium to long term holders. Volumes have been increasing week on week since mid December and also the SP has had some great gains over the past few weeks! A close above 5.5c for the week would be really bullish - a break out on the weekly!
But I guess there is also the potential for the SP to drop to the lower support of the ascending triangle over coming weeks and bounce from there. I for one don't believe this will happen as volumes are on the rise and also over the past few weeks the SP has dipped on Mondays, Tuesdays and Wednesdays and risen on Thursday and Friday! So I am hoping for a bullish finish to the week! : ) And a strong close to the week well above 5.5c!
If any proper chartists are having a read over this please correct me if I have stated any inaccuracies.
All of the above is IMHO
Please DYOR
PB
NMR Price at posting:
5.4¢ Sentiment: Hold Disclosure: Held
