Australian (ASX) Stock Market Forum

NIC - Nickel Industries

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This stock had not entered my sphere of observation until yesterday, despite having been previously held by P2 I see.
Price action today looked bullish, but now I look at the chart, it looks like a $1 barcode...

I am now thinking I should check a nickel price chart,...
Not held

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Nice five wave pattern developed from start of October entered at $1.19 looking for a fifth leg to reach around $1.50.
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Sean K said:
Boggo and @brerwallabi, what's the rule on the W5 extension? Interested to see how this pans out.
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It is also possible the 5th wave could fail, in this particular case I am hoping that the 5th wave equals the length of the first wave which is why I see my target of around $1.50 this can be quite common.
It’s also possible that the 5th wave could extend further then the first wave. Boggo’s question is asking if $1.50 is the minimum, for me it could be.
The nickel price outlook looks quite good going forward the next few years although doubtful if we will see huge rises. NIC had a positive last quarter, have a look at the last activities report there seems to be a bit of exuberance around it hence the movement in price.
 
Boggo said:
Minimum target area achieved.
Where to from here, next level or a correction ?

I won’t have internet for the next few days (in the Gawler Ranges) but it will be interesting to watch.
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Only just broken 2 year high, so maybe still has some life in it. In the right commodity at the moment. As long as Ni keeps going, then who knows.

They might branch off into fashion as well. :oops:

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Nasty upside gap the wave might extend further or possibly be terminating.
Downside is a fall back to around $1.30 the forth wave low.
Regardless I see NIC as a medium term trade and it was a pick in the yearly ASF competition the Bell Potter valuation of $1.87 is achievable and might be a tad conservative.
 
Sean K said:
They might branch off into fashion as well.
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Hmmm, so what does
Ms MoneyMoney do as a director, especially with her "degree" from the "istituto marangaoni" ?

Nickel price sure is way up there (over 3 or 4% up last night), have been expecting a breather on that.
 
For a bit of perspective, nickel has risen around 21% in the last month.
Nearly 2/3 or around 13% of that in the last week. Nuts.

I think the cost of living for many will be soon unreachable, within how many months will it take to filter through to the consumer?
The proposition is all looking a bit ugly at the moment.

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frugal.rock said:
Having a go to set a new all time high in conjunction with the nickel price.
Fingers crossed it punches through...?
Will be keeping an eye on momentum as it may try and test $1.40 again, as is the nature of the market

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My guess is it will punch through @frugal.rock .

Depends on PON and open tomorrow obviously, though chart looks good.

Well done @Boggo

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gg
 
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