bear, I agree with your analysis of the chart but commodities move differently than stocks. If you look at the look term trendline of platinum, you'll see that the uptrend is still very much intact. plat can blow through resistance that stocks would normally bounce off. So, what I am saying is that even with this recent downturn, plat is still in a bull market. palladium is sitting at longterm support as well. good trading
The whole thing is a SCAM. The original news was on NIKKEI news, without quoting where they got the information. And then it got on Reuter and within 48 hours it spreads to all over the world. And no confirmation from Nisshinbo regarding the news.
Do you know what a great technology break through it will be if they truly created a fuel cell without using PGM metal as catalyst? Things like that nature would be formally announced by the company in a formal press release and a formal press conference. It would not have been leaked out on Nikkei News like a tabloid gossip news.
You can't believe how corrupt this marketplace has become. I encourage every one directly contact Nisshinbo and demand a clarification.
[need to watch platinum recent low at 1939 for support; still in triangle formation]
Actually, the POP or the POPa, isn't very relevant for the stock, at least from a valuation/earnings perspective. It is more important to look at the recent wage settlement. We don't know the terms, but we do know that it was a 4 year agreement, so that aspect of earnings potential becomes fixed in expectation. It is also significant that GDP reported today was surprisingly strong. And, as someone else here pointed out, GM may have turned, given its intense effort to restructure. GM and F are selling a lot of cars worldwide.
The stock is cheap, cheaper than I have seen it over the last 40 years.