Stock in Focus: Nickel Asia Corp. (NIKL)

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Nickel Asia Corporation (stock symbol: NIKL) has posted an impressive price advance this year. It has come a long way since the 14s last seen in December of 2013.

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Philippine Stock Exchange, Nickel Asia Corporation_NIKL Daily chart, August 14, 2014

NIKL Daily chart, August 14, 2014

NIKL may have printed a short-term top yesterday at 40.50. We’ll see. Buyers should attempt to maintain price as close to 40 as possible. Bears would get much bolder if they would be able to crack 35 as they set their eyes toward the critical area at 25-30.

The Stochastic lags behind price as the former still sports a bullish formation while price has already declined. Most indicators lag, that is why you should focus your attention on price.

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