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I would say bottom is now in with my guess, supprot is fairly strong at .79 and bounce from this point. As I said previously that sp would stall at .88 and trade down , range now is set between .88 and .79. now a retrace and wait for news. As again I said .88 will be a marker if sp breaks above expect news shortly there after. now look for a low pivot for trading range move, my indicator says sell down is completed, small rally to follow. ...as always news changes all. ...coswil
and to add to my previous post there is a reason why the BoD and management paid themselves first with the options BEFORE this upcoming news release.
Well I have heard a little something myself. Enough for me to regain my interest in the near term news. Now is the time ofr a good play.
If I am not correct fat boy wes has stated that this is the year for Noront, There must be reason for his optimism.
I am expecting winter drill results anytime now and if Wes's expression are correct then we can expect they hit something good this winter. Assays are due .
The timing would be great now, just prior to summer starting.
As far as the chart is saying we are bouncing off the low pivot at .82 or so. .88 is target that will likely stall out at. unless there is something to this rumor then we might see some more energy in the sp. If sp stalls at the .88 I would not worry but use that target as a touch stone. If news is coming and we all of a sudden break above .88, think of that as a precursor to news. Looking at the rsi I would be leaning toward a idea that stock price is in the beginings of showing some new found strength. My tricked out cci says the rally wea re in will end at .87 but as I said news expectation , rumor specualtion can drive it above, and if sp goes above .87 in my opinion it is a confirmation that good news is coming that will drive some life back into Noront...
On the weekly chart in my opinion I would say it has based long enough and has the foundation for a significant move upward
This is just my opinion though...coswil
In my opinion this is a good sign if you are looking for a takeout bid to come soon. These BoDs are living according to human nature. Pay yourself first look out for numero uno. I would say that this is a prelude to a takeover and the BoD want to insure they get their piece and second helping. You cannot increase your pay after a takeover bid begins. I see this as the company making sure they get paid for their ... ahem" hard work" . My prediction just a little while longer and Noront will be no more. Next the winter drill results then a offer for Noront. Just as the Just as the fight between Inco and Falconbridge,for Voisy's bay, each bought in and to the victor belongs the spoil. ...coswil