Hmmm - NESRF, the NST ADR on the USA OTC was DOWN 4.72% again O'Nite - Move over GN I will be your Assistant Mushroom.NST – Their IV as at 15/2/22 was within the Range of $7.39 to $8.83.
Back on 14/3/22, Picking the $8.30 to $8.50 low was pretty easy – But picking NST’s next Support Levels is a Very Dangerous thing to do.
HOWEVER.
TA Traders will be looking at Support of abt $8.05, then abt $7.24, then abt $6.78.
Gold Traders will still be looking for ST Declines, but that obviously is dictated by numerous outside influences, IMO Putin will have the final say on where Gold goes to next, and not even Putin knows what he will do next.
ATM All ST, and most MT Inds are still dropping further into O’Sold Territory (Pages 37 - 43).
I would need to see at least 2 positive candles, and a substantial turnaround in the CCI Ind, (Pages108 & 109) and for my MFI Ind (Page 95) to cross up above its 50 Centerline B4 I jump onto the NST Train.
IMO, That turnaround could be this week, but most likely it will take weeks to happen.
View attachment 141434
Remember that the above is my personal opinion, it is not a recommendation, you must DYOR.
Cheers.
DrB
In terms of my previous post I've renamed my Weekly Blog as 'Not the Weekly Blog!"
Hi Rabbit,Telamelo quote...
Good luck trying to fish NST for $8.30 or lower (Gold would need to crash imo & this ain't going to happen anytime soon)
Rabbithop quote...
Never say Never....NST did hit low of 7.87...My 8.30 looks expensive too..?
I salute to all....Going over at those charts...more than 90% prediction of stock prices hit the approx ranges..Well Done.
Hi Dr B - I've been thinking gold should have come back into its own in these trying economic times, but not so. The precious metal seems about as popular as Boris Johnson. NST made a big head and shoulders which predicts a low of $0.88 (even I don't believe that) and the recent support break suggests $4.28 Having broken below that really strong level of support - to use a technical charting term it looks to be stuffed to me!Hi Rabbit,
B careful with NST, @ $7.00 it is only just below its 15/2/22 IV Range of $7.30 to $8.83, Personally I look for stocks that are at a substantial discount to their IV, NST is not there just yet IMO. even then it is still still dangerous trying to calculate NST Bottom Price, as most TA suggests $6.00 is still possible.
However a lot of TA Types feel that NST is almost ripe enough, for them it's got 2 more hurdles to get past B4 any new ST Uptrend starts.
The following Chart shows what TA Types that use Indicators are looking for :-
- NST needs the CCI to "Close, and Hold Above its Zero Centreline" (that should happen by todays COB),
- AND its "MFI to Close and Hold Above its 50 Centreline" (that could take a few more days), .
View attachment 143843
This years financials will probably show NST's IV will be in the $6 to $7 Range, so a lot of traders will be waiting for that next low.
Cheers M8
I agree that it's unusual seeing so many bullish reversals in companies that don't impact the index. The market leaders are still struggling. This makes me wary and I'm cautiously buying a few but not many.Interestingly, the new stocks I'm seeing make buy patterns are those I either haven't traded before - or at least not for a long time. Many of the old faithfuls are still taking water as the market sees them overpriced in this new economic world.
Agreed. While there is nothing other than a bit of a bounce of a strong level of support to support the argument I feel the XAO may have bottomed.I agree that it's unusual seeing so many bullish reversals in companies that don't impact the index. The market leaders are still struggling. This makes me wary and I'm cautiously buying a few but not many.
Hi Dr. Thank you for your post. NST will have to wait for me. May be tempted bet 5 to 6.Hi Rabbit,
B careful with NST, @ $7.00 it is only just below its 15/2/22 IV Range of $7.30 to $8.83, Personally I look for stocks that are at a substantial discount to their IV, NST is not there just yet IMO. even then it is still still dangerous trying to calculate NST Bottom Price, as most TA suggests $6.00 is still possible.
However a lot of TA Types feel that NST is almost ripe enough, for them it's got 2 more hurdles to get past B4 any new ST Uptrend starts.
The following Chart shows what TA Types that use Indicators are looking for :-
- NST needs the CCI to "Close, and Hold Above its Zero Centreline" (that should happen by todays COB),
- AND its "MFI to Close and Hold Above its 50 Centreline" (that could take a few more days), .
View attachment 143843
This years financials will probably show NST's IV will be in the $6 to $7 Range, so a lot of traders will be waiting for that next low.
Cheers M8
NST (along with just about every other stock) kicked up this week but it has not yet made any buy pattern - in fact having made its lowest price for 4 years, theory says it still has a high probability of making lower prices.Hi Dr. Thank you for your post. NST will have to wait for me. May be tempted bet 5 to 6.
Whoa! GN comment about 4 plus..Holy Molly. It's CRAZY
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