Tuesday, September 19, 2017 12:22:25 AM
Looking at NAK....
One of the biggest collapsing miners since the 2011 peak, but also one of the strongest rally bubble surges in 2016 to an overblown top at 3.45 the real(Fibonacci) target for the numbers is the 2.50 area. (2.00-2.70 area. There are old resistance shoulder zones there as well from 2012 time. NAK has moved in some consistent Fibonacci tracks, from the bottom, a double to 48 cents, from there to a first rally wave zone (.93-1.16) a 50% pullback to retest .54, a wave 3 rally that just went ballistic way above even the wave 5 target zone at 2.65. so I dismiss the peak at 3.45. and stick with the Fibonacci math . Then we see a downwave that retests the 1 dollar zone (1.06) falling from yhe extreme 3.45 peak....that's what a bubble stock will do. and now it manages to climb back to retest the 2 dollar zone. I see the chart and the Fib math suggesting (my interpretation) that the 2.00-2.65 area is the real top finish for the rally. and this climb back into that zone is dangerous now to get Hammered down again. The retrace zone is back at 1.00-1.20, and I expect a 50% haircut is what these stocks will do, many times . IF I owned this miner,and had a lot of profit on paper, I'd be selling half at 2 dollars and the other half when resistance looks bad at 2.25 or 2.50. and looking to rebuy it when the 50% haircut takes it down to 1 dollar again. It might be a nice trading stock from 1 dollar to 2 dollars and back and forth.
One of the biggest collapsing miners since the 2011 peak, but also one of the strongest rally bubble surges in 2016 to an overblown top at 3.45 the real(Fibonacci) target for the numbers is the 2.50 area. (2.00-2.70 area. There are old resistance shoulder zones there as well from 2012 time. NAK has moved in some consistent Fibonacci tracks, from the bottom, a double to 48 cents, from there to a first rally wave zone (.93-1.16) a 50% pullback to retest .54, a wave 3 rally that just went ballistic way above even the wave 5 target zone at 2.65. so I dismiss the peak at 3.45. and stick with the Fibonacci math . Then we see a downwave that retests the 1 dollar zone (1.06) falling from yhe extreme 3.45 peak....that's what a bubble stock will do. and now it manages to climb back to retest the 2 dollar zone. I see the chart and the Fib math suggesting (my interpretation) that the 2.00-2.65 area is the real top finish for the rally. and this climb back into that zone is dangerous now to get Hammered down again. The retrace zone is back at 1.00-1.20, and I expect a 50% haircut is what these stocks will do, many times . IF I owned this miner,and had a lot of profit on paper, I'd be selling half at 2 dollars and the other half when resistance looks bad at 2.25 or 2.50. and looking to rebuy it when the 50% haircut takes it down to 1 dollar again. It might be a nice trading stock from 1 dollar to 2 dollars and back and forth.
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