Nico Steel - My pain, My love

During my time in InvestingNote, I have made a 'Buy' call to followers on this stock Nico Steel. The call was made on 20th Oct 2017 and Nico Steel price then was $0.011. The call to 'Buy' was really targeted to one of my member and was posted for the rest of the followers to take note. This was an unintentional call and but it had created quite a bit of drama then. My recommendation then was to park a 'Small Amount' to invest in Nico Steel. I also warned that the stock was fallen into SGX watch list, so there will be risks associated with the investment.

But why am I bold enough to make a 'Buy' call on such a ultra penny stock?

I have considered that the stock was technically in strength to go higher and fundamental cheap in value. I viewed that Nico Steel market cap of only $4.5Mil on the back of $11Mil sales per annum was a good buy. This was especially so when Nico Steel had turned profitable on its last quarter results. $4.5Mil market cap with an outstanding shares of about 560Mil shares will be a perfect piece of gold to the eyes of big overseas firm who wish to do a RTO (Reverse Take Over) exercise. This 'Buy' call was based on calculated risk that I am more than willing to take. So, I invested some.

However, Nico Steel share price plunged the following day on 24th Oct 2017 to low of $0.007. Technically, it had failed in its attempt to breach the resistance level of 0.011 region. The plunge in price was also due to liquidation by substantial shareholders. With this drop in price, the market cap of Nico Steel has came down to just $3.9Mil. I want to laught really, this piece of gold is now cheaper than before.

So, what happened after that was even more interesting. The professionals or TA Guru took this opportunity to start thier trolling exercises cleverly. I played along knowing very well that there was no victim to this 'wrong' call. Most members were just following the posts and feeling entertained.

Before I was given a ban, I have actually wanted to share with all InvestingNote followers on my detailed reading of Nico Steel share movement going forward. Now, I am not able to do so. The whatsapp broadcast above is what I have shared with my new members. Unfortunely I have to hide the important parts of my coaching stuffs simply because I have to be fair to the new members who came forward and trusted my service.

If you come to my blog and see what you like or wish to find out what I have imparted to my members, you are free to contact me via the contact form or email to ipotrust@gmail.com

Nico Steel, junk or gold? Only time will tell... but I am hopeful.