Thursday, February 16, 2012

NICORP short-term outlook

NICORP, famous because we got the director of the year, Mr. Raymond Chan, emerging on the board. Previously, he went on HARVEST's board & caused the hoo-hah on the share price, together with our nation's 'First Son'.

I wasn't looking into NICORP's charts as I don't really believe in charting for speculative stocks that went up for no specific reason, what-so-ever. However, today upon request, I put up it's chart. 

WALA!! It's a nice chart indeed! Forming RHS of a saucer. 

Just at 11am+ today, the price reached 0.600. I believe it can go up further to find the 61.8 fibo retracement line at 0.610 & higher. However, before that should see a retracement back to 0.56-0.57 region first (as of writing, price just retraced to 0.560 after lunch break. My chart was plotted at 12:21pm). Then expect it go back up higher again from there to close at 0.60 or higher today.

Below is the near term outlook, coming with comments.


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