Chart check Nicola Mining: Ten-week downward trend broken – currently 100% above its summer lows

The share price of the Canadian resource company Nicola Mining (NIM TSXV / WKN A3D3LF) fell after the high point in September below the red trend line and was able to stabilize somewhat below the 100-day line in the area of the high points from August and initiate a bottoming formation. The day before yesterday, accompanied by a slightly increased turnover, the clear jump over the downward trend line up to near the mark of 1.00 Canadian dollars succeeded.

The 200-day line and also the 100-day line are steadily rising further – in addition, the 100-day line is fortunately still above the 200-day line.

Several indicators generate buy signal for Nicola Mining

The MACD as well as the stochastic indicator succeeded in generating a buy signal a few days ago (in both cases the blue line crosses the red line upwards).

The Money Flow Index, which is to be interpreted as a sales-weighted Relative Strength (RSI), recently fell to 30 and thus to a value from which this indicator is considered oversold.

For the Chaikin Money Flow, the more than three-month course in the red zone indicates an outflow of capital from the share since the beginning of August. Yesterday, for the first time, the jump back into the green area, indicating capital inflow, succeeded.

Chart of Nicola Mining with indicators — *Source: Comdirect*

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