Northern Dynasty Minerals (NAK) Charts for this Week
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| NAK Elder Impulse Weekly |
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| NAK Daily with Fibonacci Retracement Levels |
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| NAK 3 Month Daily |
Northern Dynasty Minerals has staged a breakout that failed at 11.75. While NAK has made significantly higher lows since the last breakout, 6.40 low close and 6.10 intrday low (one year ago) to a current floor of 8.60. Indicators showing NAK is oversold and judging by NAK's peers, a recovery for the high quality mining shares is fully underway. This does not mean we are "out of the water" just yet, but shows that the tables are turning and entries at these levels may garner speculative attention and yield large returns going forward. I have yet to take a position in NAK, but I will be watching to see how this plays out.
The only problem with NAK is that people have been paid to flame it (my opinion in going on the Yahoo boards). And of course a lot of great producers and projects have been sold off in the general deleveraging.
ReplyDeleteI hold NAK and I'm goggle-eyed at the price it's selling at now. It's an incredible resource and it will be developed. If you look through the company site and see who they have hired and how they are approaching permitting, you'll know it's a go. Also check out the recent voting in Alaska that went against greater strictures in licensing. The current stock price is a giveaway, an incredible bargain.
ReplyDeleteI don't believe in NAK it's a bubble
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