Good morning all, here are the technical numbers and some personal thoughts:
12ema: $0.38 cents
20ema: $0.35 cents
50ema: $0.31 cents
200ema: $0.28 cents
Noront is firmly entrenced in an upward trend. I added the 12 day average as it appears to be very accurate over the long term at finding buy and sell markers for flipper type trading. IMO there isn't much downward risk left with Noront at these levels, maybe if we had a big pull day on the markets it could see .35, but given that, it probably isn't worth the trouble. With Harpers comments at PDAC I expect we will soon start another leg up. $0.40 seems to be giving us some resistance but nothing a couple hundred thousand shares won't take care of. If and when we finally break atop $0.49 cents we could see another significant rally.
I just noticed that Nickel spots have broken above that triple top area of $6.70ish. I guess our call on bottom a couple months ago at $6.00 was bang on. Nickel could see $8 fairly quickly if it holds this break of $6.70 IMHO.
TSXV, chart wise, also looks great for the first time in years. All signs point to the venture finally being a buy rather than a screaming sell like in the past. The good stocks, like noront, will be the first to be accumulated.
Fundamental catalysts are hopefully on the horizon...............most importantly, some form of infrastructure commitment. This will lead to financings, exploration drilling and potential buyouts/mergers. Fingers crossed folks. Good luck to all.
djje