The 2-day massive sell down has brought most stocks down. Corrections are healthy and are always a part of the market movement. The good thing, what goes down always comes back up.
Majority of the stocks are on their bargain prices and after days, and even weeks, of bullishness, most of these stocks have retraced and are soon bound to go back up.
ORE and NI have shown great potential to rise. On the first chart below, ORE is currently resting on its channel support at 5. How strong is the support? ORE's low for the day was 5 signifying that such support is strong.
Hyped to make it to 10, ORE is poised to give nearly 100% return. Fundamentally, the ASM is scheduled on September 15 and prices are expected to rise before the said date.
Below is the chart of NI. NI bounced at 50% Fibonacci at 3.67.
Fundamentally, NI is being prompted by the anticipation of a "big company" coming in. Because NI bought a part of ORE, both NI and ORE might go hand in hand together.
Both NI and ORE are poised to make it to 10 but the question is who makes it first. As far as the channel and Fibonacci are concerned, ORE is a sell at the 7 or even 8 levels while NI may breach 4 once again in a very short period of time.
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