Summary of Candlesticks of Mining stocks
NI – now lying at psychological support at 10. Candlestick pattern shows a
bearish 3 Black crows. RSI is now only 27.09, oversold. Traders are now
expecting a bounce.
For holders, it’s a sell on rally.
DIZ – same as NI, formed a bearish 3 black crows and macd triggered a sell
signal. Sell on rally or if you want to get in, wait for reversal
candlestick pattern like hammer.
ORE – on their disclosure, NI sold 3.2M shares last week. If NI was
disappointed on 2011 results and serious on divesting in ORE, they still
have 71.8M shares to sell.
NI’s average on their 75M shares was only 4.5 Pesos. They will still have a
50% gain even if they sell at least 6.75.
LC – breakdown from support of 1.40. Next support is at 1.20
MA/B – MAke or Break! Last time it touched 200-day SMA and RSI 30, it
bounced from there. Let’s see if it will bounce again from here.