NKP 0.00% 9.9¢ nkwe platinum limited

break out is on - wheres the resistance?

  1. 476 Posts.
    What a great week for NKP holders, the stock has been trading in a nice up trend for some time and has now well and truely broken out.

    In my view the break was imminent - the low stock price was not justified. When you look at the size and location of the resource, the price and outlook for platinum and the backing of X-strata, its clear that the stock price was set to rise.

    The D&D report has shone the light on the prospects of NKWE and platinum in general and has served as a catalyst to fast track the Break out.

    So wheres the resistance?

    Here is a 6 month daily chart:



    Clear break out on the daily chart. There were a couple of opportunities to get long on the pullbacks which nailed the uptrending daily support line and the 50 EMA.

    Daily resistance line should now become support so any pullbacks to around the 46 cents level should be bought.
    This level will be very well supported with D&D subscribers being told to buy the stock up to 45 cents.


    Heres is a 3 year Weekly chart:



    - Shows a strong break out of the weekly trend channel.
    The stock failed to break the weekly resistance line on 10 seperate occasions since may, therefore the break and close above the resistance is very bullish.

    - The weekly chart clearly shows the absence of resistance until the 70-75 cent level.
    Therefore this is the first target zone for NKP and i feel that it will achieve this target in the very near future.


    NKWE has been well and truely flying under the radar, recent announcements regarding an imminent resource upgrade combined with the glowing report by D&D has forced investors to take notice.
    The fact that NKP have the largest undeveloped platinum project in the world certainly warrants this attention.

    A lot happening here both technically and Fundamentally, should translate into further excitement and price increases for holders.

    Looks Good!

 
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