NCKL trade ideas
NCKL Elliott Wave CountAnother nickel-related stock. Earnings wise is quite good compared to MBMA. PE < 10, PBV is still quite expensive.
It's very interesting since NCKL's management has set the MHP (Mixed Hydroxide Precipitate), EV battery raw ingredient production to double in 2024. Earnings will get significant boost due to this. Nevertheless, we have to pay attention to nickel price since it has fallen for quite some time.
I think it will bottom somewhere in 500-600-ish range. Stay tuned.
NCKLPattern : symmetrical triangle
Try to penetrate the trend line at level 985
If break, there are potential upside to 1255 level (gradually from 1020, 1075, 1155 to 1255)
MACD : try to go up to 0 level
Recommendation:
BUY: if break 985
Sell: as mentioned above
STOP loss: 3-5% from purchase price
Disclaimer:
this recommendation is made based on technical analysis, all decision to buy/sell is on traders/investors
#plan_trade_repeat
