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The three-year chart outlines a stock that has been in a retreat that started back in 2011 as copper prices began their decline. NCU traded to a high of $6.13 in May of 2011 while Pumpkin Hill has been advanced greatly since then. There are two external factors that could help drive the price back to those levels: a rise in copper prices or a takeover offer. There has been some speculation that a bigger player could be interested in the stock given the value of the resource, and its favourable location.

What is observable on the chart is the double bottom that formed between late December of 2013 and early January of 2014 which signalled a reversal of the downtrend. In early December of 2013 the MACD and the RSI also indicated that the stock was oversold and that investors were starting to build positions. Your surveillance of the volume increase in January of 2014 contributed to a healthy return. Well done! The leg up that started in March of 2014 was in response to an increase in the price of copper. As copper goes so goes NCU. Finally there is a golden cross that formed in early May suggesting that we can expect more buying.

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