Chart check Nicola Mining: Upward trend still intact
https://goldinvest.de/chart-check-nicola-mining-upward-trend-still-intact/
Medium-term buy signal from the averages
The share price of the Canadian mining company Nicola Mining (WKN A14T7S / TSXV NIM) has continued the trend reversal that began in the April chart check. Since mid-May, the share price has been moving upwards within the blue trend channel and has gained well over 50% at its peak.
The 200-day line recently ended its downward trend (which has also only been minimal since April) and is now moving sideways, which should be seen as neutral. In contrast, the 100-day line has fortunately been rising since May and recently generated a medium-term buy signal by breaking above the 200-day line.
The oscillation of the share price within the trend channel recently caused a sell-signal of the MACD indicator (blue line crosses red line downwards) after the bounce off the upper line (as well as 6 weeks ago). As in mid-July, it can be assumed that this indicator will turn to buy again after bouncing off the lower trendline (green circle). The trend confirmation indicator has been clearly above the neutral mark of 100 in positive territory since May. The overbought/oversold indicator touched the overbought zone at 2.0 during the steep price rise at the beginning of April. The recent spike then no longer reached this level – this indicator is currently moving calmly and almost sideways near the neutral midpoint at 0.5. The Chaikin Money Flow has been positive, rising since the beginning of July and indicating an inflow of capital two weeks ago by returning to the green zone.
Source: Comdirect
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