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Topic: NSRPF (Read 1329 times) previous topic - next topic

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Reply #15
I bought a hundred shares of Novo this morning. All that does is move it to the top of my watch list. I think the fundamentals are much better than technical projections reflected in the charts. Anybody have any thoughts on Novo.
I have made and lost money on it. The problem is how they measure the gold on a so called difficult project. I also have been watching it.

PVG had the same problem and ended up taking a large and controversial bulk sample, but still got the gold concentration wrong and when released as news, the stock took a 50% hit. The PVG operation is still very good, just not as good as once claimed. Same could occur with Novo, but the error, if any, may go in Novo's favor just as easy as not. We will see; it did well today.

What I worked up for NOVO. As you can see it's a pretty jumbled up mess. Following yesterday's performance if you get a bounce off the yellow line then it should go your way. Risk looks high, but you are already aware of that. GL.

  • ken 
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Reply #16

Reply #17
Novo has had a rough time over the past couple years but recently the chart is showing some bull character with the recent positive news reports. There is a double bottom at $1.41 and stiff resistance at current trading levels with a strong up slope trend commencing early summer. The last few days the stock has run up about 35% with a volume validation dragging RSI into overbought territory and MACD is also getting elevated. 50 and 200 day moving averages are bull oriented. I have a small position and will likely add to it during tax selling pull backs. The company has great potential to be a ten bagger or more if they get their package figured out and everything permitted.