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Potential Buy Entry Alert to Watch NIC
Time Frame : Daily
Sector : Materials/Basic Materials
Key Stats : $481.3 Million Market Cap, VWAP 0.44, ASX Ranking 354, 4 Week Av Turnover $344,921, Current Turnover (Intraday as at time of alert) $184,546.
Company Overview : Nickel Mines is an Australian company that currently holds an 80% interest in the Hengjaya nickel mine located in Morowali Regency, Central Sulawesi, Indonesia (Hengjaya Mine), which mines nickel laterite ore. The northern-most boundary of the Hengjaya Mine is only 12 kilometres south of the Indonesia Morowali Industrial Park (IMIP), which is controlled by the Tsingshan group (Tsingshan).
Broker Consensus : Not covered by a major broker
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NIC – Nickel Mines Limited
NIC looks ready to fire as buyers hold a higher level but price still has a bit of work to do. The small nickel miner is finding support around 0.40 then down to 0.38 as buyers are building and soaking up the selling pressure. We are now watching for a higher low to build with increased volume for more confirmations that price will run higher.
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Stock Code : NIC – Nickel Mines Limited
Company Website : www.nickelmines.com.au
Current Price : 0.43
Status : On watch for potential higher low and move up through 0.48
