Current sell off is pretty aggressive. In the recent past the condition was not conducive for a positive rally in the stock with the strong AU over shadowing the gold price rally. Currently we have a perceived weaker AU and gold price maintaining value so this selloff could be just a product of momentum buying of late but profit taking now?
I will also be looking to add with some form of price action signal setup. On the weekly the ultimate top was broken with price holding above the resistance for at least 2 solid weeks so this is one clue that it wasn't sellers coming in opportunistically selling into that breakout immediately. I was hoping 5.80-5.90 resistance would hold in the pullback and we are currently in that zone since price level are never perfect.
Serious contemplation now.....
NST Price at posting:
$5.86 Sentiment: Hold Disclosure: Held
(20min delay)
