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Niku Corporation (NIKU) Message Board

  • anonyfool anonyfool Nov 16, 2001 5:40 AM Flag

    Re: If NIKU will break out over $1.40 -

    accrest1, err <'couse it may move up too fast>. Very much agreed. Niku is taking off like a rocket from a cup with a handle formation on the chart.
    All trading on Thursday was above the upper Bollinger Bands

    This usually represents an exhaustion move with a strong pull back to follow, however, IMO, with Vector Capital comming into the fundamentals I think it is the start of a very powerful rally. Vector Capital has stated "This is an excellent time for us to increase our involvement and ownership in Niku". Since Niku is not starving for cash my take is "increased ownership" will be stock purchases, this would serve the company best at this time. May be something in SEC rules that says they have to wait a couple of days after offical news. Anyone up on this? All said, technical breakout for Niku was at .85, we have seen explosive volume to confirm this. There was considerable resistance at .89 but Niku cut through it like warm butter. As I stated before we have heavy resistance at 1.10. When Niku can take out resistance and close above 1.10 I expect the pace to pick up. Good luck all, just might have a tiger by the tail.

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    • anonyfool, as an insider/board member, I believe Vector can start to purchase shares on Monday. I also think this is when our re-purchase program can resume. On the CC, it was good to hear FD say they were bullish enough to purchase $2 million in shares last Q. FWIW, regarding the buyback I had called JP last Q who said they were buying shares. Others on this board had incorrectly insisted they were not buying stock to conserve cash and that I was wrong.

      Just my opinion.