The Responsible Trader

STOCK CHARTS AND ANALYSIS – NIKL

 

In accordance with our Independence Day commitment, following is our Technical Analysis of  NIKL (NICKEL ASIA CORPORATION) as of Sept. 4, 2015.

 

This  completes  our THREE for FREE for this week (SMC – Index Stock, VLL – Non Index Stock and this one NIKL – Non-Index Stock).

 

TA – TRT Way – Straight from the Chart

 

 

POSITIVE

1.   Bounce after hitting 52-week Low. NIKL bounced after hitting it’s 52-week Low. It needs to break immediate Resistance of P9.48 to confirm the bounce.

 

NEGATIVE

1.   Volume Bearish Divergence. After bouncing from its 52-week Low, while the price is going up, the Volume is moving in the opposite direction.  This could indicate that the bounce is not sustainable.

2.   Price action below 15 EMA and 20 SMA – Bearish – Short Term. Price action below 15 EMA and 20 MA shows that the stock is Bearish in the Short Term.

3.   Price action below 50 SMA – Bearish – Medium Term. Price action below 50 SMA shows that the stock is Bearish on the Medium Term.

4.   Price action below 200 SMA –  Bearish Long Term.  The stock’s price action below 200 also shows that the stock is still in Bear territory.

 

NOTES:

1.   Positive points are things that could work in your favor. Negative points are things that you have to watch out for.

2.   On the opposite side of Pattern Targets are Pattern Failures. In case you decide to take this trade, always remember to set a stop loss based on your established risk tolerance level.

3.   September is a very significant month for us. It was at the same time this year that we introduced Responsible Trading to mainstream social media.  Starting September 1, 2015, since you are already familiar with our caption “TA – The Responsible Trader’s Way – No Hyping, No Bashing, Just Plain Cold Facts” we are changing this to TA – TRT Way – Straight from the Chart.
The Chart and Analysis is presented for educational purposes only and should NEVER BE TAKEN as a RECOMMENDATION to BUY, HOLD, or SELL.
Please trade with CAUTION, please trade with CARE. As always, IT’S YOUR TAKE, IT’S YOUR CALL. IT’S YOUR MONEY AFTER ALL.

 

Good luck on all your trades.