Trader's Logbook

NIKL (NICKEL ASIA CORPORATION) – is up for a 50% stock div play but no date yet. Basing on its chart, the price may fall. I think traders were so quick to get in when the news about the 50% stock div was disclosed. Now that the nickel price in the global market has dipped and ex-date of the dividend still not disclosed, traders might sell and ride another horse. But if you are a willing to hold for a few months, its your chance to accumulate as nickel price may recover in Q3 (http://business.inquirer.net/64407/metal-prices-expected-to-recover-in-q3)

Basing on the chart, we see that SMA1 crosses under SMA2 which is a bearish crossover plus a Hanging Man candlestick from yesterday’s trading. Two bearish signals is not good at all. Caveat!