Stock: NIKL
Company: Nickel Asia Corp.
Support: 5.41 / 5.20
Resistance: 5.70

NIKL slipped for the second consecutive trading day, effectively forming a relatively narrow range between 5.41 and 5.70. Despite the two-day slump, the stock is still trading higher than its short- and long-term MAs.

Meanwhile, the indicators are mixed with a more bullish bias; the RSI and MACD are showing some buying pressure with flattish momentum. The DMIs, on the other hand, staged a bearish cross yesterday with declining momentum.

NIKL’s consolidation may persist until the rest of the week. However, if the downtrend continues, there is strong support at 5.20.


Trade the range.


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