Capital has been flowing into the stock since December
The share price of the Canadian mining company Nicola Mining (WKN A14T7S / TSXV NIM) continues to rise above the blue trend line after breaking the downward trend shortly before the end of the year. Both average lines were recently broken significantly, accompanied by high trading volumes. Having reached 0.35 Canadian dollars a few days ago, the share price is now only 4 cents short of its twelve-month high from July 2024.
The 200-day line continues to rise steadily, whereas the 100-day line, which has been falling since November, has now unfortunately also crossed the 200-day line to the downside. However, it is encouraging that the 100-day line has been able to start moving upwards again for a few days now.
After the MACD generated a buy signal at the beginning of December (the blue line crosses the red line upwards), this was subsequently put to the test several times – but ultimately the blue line remained above the red line and the buy signal thus intact. At present, another test of this signal appears imminent. Since the beginning of December, the trend confirmer has been trading above the 100 level again in positive territory and is currently making strong gains. The Chaikin Money Flow shows a steady flow of capital into the share over the same period (exclusively in the green zone). This has recently reached its highest level in the last twelve months. Overheating of the upward movement according to the calculation of the overbought/oversold indicator occurred only twice in the period shown, with values of 2.0 and above. At the beginning of February, there was another sharp rise, but the critical value was not reached and the rapid correction means that this indicator is currently quoted at 0.8, closer to the neutral midpoint than to the overheating zone.
Source: Comdirect
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