Hey folks, here are the numbers and my personal thoughts:
20ema: $0.44 cents
50ema: $0.38 cents
200ema: $0.31 cents
As you can see we are well above the major support/resistance markers. IMO these are the toughest areas for TA to predict, as we are essentially in "no man's land". One thing is clear, we are entrenced in an upward trend, and personally, I don't believe we will breach this for quite some time......potentially years. Now now, before you call me a pumper, you need to understand what that means. In theory, Noront could pull all the way to $0.31 cents, hold the 200ema and this would still satisfy the criteria to maintain it's long term upward trend. This is what many don't get. Upward, or downward for that matter, doesn't mean there won't be pulls or rallies along the way. Timeframe is what causes investors to make irrational decisions based on........well, nothing usually. Example, if noront "crashed" in the next week to $.35 cents we'd have 50 AG posters saying there is something wrong and noront is in a downward trend........that would be WRONG. For the record, even on a deep pull, I doubt we'd test the 200ema, but you never know.
The reason i'm going on and on about this is because I don't particularily like putting my thoughts to public paper as many don't understand TA enough to get exactly what i'm saying, and I don't want to be responsible for anyones investment decisions. DYODD. My opinion is that Noront continues it's upward trend clean through till production, based on my belief of all the events that are coming. Don't fret, like always, there will be exit and entry points along the way.
On the immediate horizon we have infrastructure and financing catalysts. After that, we will probably have a cooling off period simply because traders will exit for good. Then we could see some exploration drilling which, IMO, could/will trigger a takeout. Ducks are lined up, I see only positive long term developments in our future, but in between all of these, people will take profits and shares will flip hands. The most healthy rise is a slow and steady one, which is exactly what we have been doing. Good luck all.
djje
