Niocorp Developments Ltd (NB)

[DouglasPlatte]

A couple charts:

I believe Niocorp is an event-driven name in the short term, especially given the path to FS we are on. So with that in mind, I also believe the recent events of increased interest in PP could be the catalyst for a move higher. In my opinion, we need to view NB.TO (as opposed to NIOBF) when checking out the technical analysis in this name.

Here is the short term chart:



You can see what appears to be a major reversal, corresponding to the PP time frame recently. Bounce off the lower bollinger band and major up swing out of the channel to .75. (At .74 currently).


Here is the long term chart:



Bounced off the lower bollinger band and made a run to the key point around .74CDN. Points to .85 as a resistance point in the near term. Price action had a similar look at the beginning of '16 - with a bounce off lower bollinger band and then a major upswing to the top of the channel.

Of course, this is all witch-craft and I don't necessarily buy in. But a lot of people do, so we should at least keep an eye on the levels.

-DP