$NK Technical Analysis 1/20/20

This is not to be taken as investment advice, it is simply my opinion.

Update 1/21/20 10:00am est.

If this can hold above $6.40 and the trend continues, we could very well have a green day tomorrow. This has been holding well since the last run, and if you look at the photo above you will see where I have circled two red candles representing 4h of time. If history repeats itself, which is one thing you look for in technical analysis we could get that push for a break of $9.90 into the $12.00 range.

This has been on a strong uptrend since the end of November, but the last 5 days have been quite impressive by themselves. After sustaining it’s gains from the $1.20 range, it held around $3.50 until breaking out and reaching a high of around $8.65 . It declined back to the $4.90 range but still held gains overall providing strength for the next move upwards. This run managed to hit a high 9.90 and declined back to the $7 range where it rallied back to $8.40 before settling @$7.45 in after hours. I am looking for this to continue, holding above $7 and breaking through 9.90. my target for exit would be around 11.50 expecting a price towards $12 if this continues, but remember that is IF so if you are in a trade pay attention and watch for indicators and let the market tell you when to enter and exit.

If you like this check back for more, and if you would like some free information on how to get started or improve trading with technical analysis, just check out the “Getting Started” tab in the top left.

Click to rate this post!
[Total: 0 Average: 0]

Leave a Reply

Your email address will not be published. Required fields are marked *