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Gold/Mining/Energy : North American Nickle

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From: ayeyou5/16/2014 12:51:18 AM
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From BMR morning market musings....
North American Nickel (NAN, TSX-V)

We have high hopes for North American Nickel (NAN, TSX-V) this summer as it gears up to drill its 100%-owned Maniitsoq Nickel sulphide Project in southwestern Greenland…in addition to the robust geological potential of this project, as demonstrated by last year’s results, Nickel has been the best-performing commodity of 2014…NAN is already well-funded but announced last week it has arranged a private placement at 33 cents to raise gross proceeds of up to $9.4-million…Sentient intends to invest its pro rata amount in the financing in order to maintain its 41.3% position in the capital of the company…

On this 2.5-year weekly chart, you’ll see that the CMF indicator is showing the strongest buy pressure in NAN in nearly two years…excellent support in the mid-30's at the rising 50-day SMA…the next Fib. measured resistance is 51 cents (not a price target, just a resistance level based on Fib. analysis)…NAN is unchanged at 40 cents as of 7:00 am Pacific

bullmarketrun.com

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