Sorry have been busy and did not notice his reply to my email untill now

Coop

Noront Resources Ltd., NOT TSXV, has been running like a greyhound since October of 2006 when it began reporting results from its Double Eagle play in North Eastern Ontario.

Today's news of drill hole results that assayed 7.91% Nickel, 3.45% Copper, and 3.87 grams/ton of gold has been well received by investors. From a base metals perspective these are bonanza grades and the gold values are way better than shabby!

You can see that today's advance hit resistance on the 50 day moving average so it may have to keep pressing to drive through it. The best part of the advance from the $2.50 lows of earlier this month is that it has taken out the trend resistance that has been hanging over the stock since October of 2007.

In addition although the pattern isn't perfect, but what is really, the long term chart seems to be telling us that a pennant has been formed, which usually indicates a continuation of the trend.

A break above $4.50 looks like new support and that could be an entry point for those that didn't catch a rise on this runner a year ago! 

Happy Capitalism!

Charts courtesy of StockCharts.com.