Yesterday's rally was pretty strong. Today's rally invalidated the 4th wave rule. I conclude that this is a textbook flat move.
Pretty damn interesting considering that the fundamentals supports the target price. We enter at the (ii) wave.
Good luck.
Another nickel-related stock. Earnings wise is quite good compared to MBMA. PE < 10, PBV is still quite expensive.
It's very interesting since NCKL's management has set the MHP (Mixed Hydroxide Precipitate), EV battery raw ingredient production to double in 2024. Earnings will get significant boost due to this. Nevertheless, we have to pay attention to nickel...
NCKL has broken out of the triangle. Extremely high volumes in last trading session. Nickel Prices also reversing in Global MArkets.
Resistant 1: 1115
Resistance 2: 1200
Target 1: 1500
Target 2: 1900
Note: Analysis is only for educational purposes and is not an investment advice
Pattern : symmetrical triangle
Try to penetrate the trend line at level 985
If break, there are potential upside to 1255 level (gradually from 1020, 1075, 1155 to 1255)
MACD : try to go up to 0 level
Recommendation:
BUY: if break 985
Sell: as mentioned above
STOP loss: 3-5% from purchase price
Disclaimer:
this recommendation is made based on technical...
