NI - reversing?

By -


Your Ad Here
NI = 18.5 (5.7%)

NI formed a white candle with lower low and lower high. Might be bullish.

NI might be forming a reversal pattern: piercing pattern, which would reverse the current downtrend to either a sideways (more likely, given the volume) or uptrend.

If this is indeed a piercing patter the low would be the bottom of the downtrend.

This reversal pattern would be verified if NI forms higher lows and higher highs for the following trading days.

Support: 17, 16
Resistance:18.5, 19-19.75 (previous gap down)

Good luck to all NI traders!
Western Union.Mac (Apple Computer, Inc.)Iomega CorporationFujitsu Computer Systems CorporationLinkShare Referral Prg

Comments

Anonymous said…
i don't seem to get this statement:
"white candle with lower low and lower high might be bullish"

can u further clarify?
November 23, 2007 at 10:30 AM
ninodal said…
Thank you for the comment and the desire for clarification :)

These are two sentences :)

The first sentence captures the move of NI for the trading day :) it formed a white candle with lower low and lower high :)

The second sentence captures what i think / feel the stock is doing based on the candlestick formation :)

I try to capture everything that i feel is pertinent information in the first paragraph. The following paragraphs tries to establish a basis for why I believe the things that I comment about on the first paragraph :)

If you read further along you would note that the following paragraph describes a reversal formation, which forms the basis for what I believe might be a bullish consequence from the candlestick formation :)

I hope this clarifies you query :)

Again thank you for the comment and I hope you can post more comments!

More power to you!

Feel free to probe :) I welcome your questions :)
November 23, 2007 at 8:06 PM
Post a Comment

Popular posts from this blog

EDC - found trough and possible new support level to form steep demand line

By -
Image
EDC 7.3 ( 1.4% ) EDC formed a trough at 6.9, which might be a new support level, to form a steep demand line Resistance: 7.8 Support: 7/6.9 Good luck to all EDC traders! PNOC-EDC potential bidders down to 16 10/11/2007 source: Technistock The number of potential bidders for the government's remaining 60-percent stake in PNOC Energy Development Corp. has gone down to 16 from the 24 that had submitted letters of interest. PNOC president Antonio Cailao said the 16 entities were those that met the Oct. 5 deadline for the submission of the initial pre-qualification requirements and passed the first screening process. The list of the pre-qualified bidders should have been released Wednesday, but Cailao said the PNOC Privatization Committee had decided to give the 16 entities a few more days to submit additional minor requirements. "Of the initial 24, eight have fallen off so we now have 16 potential bidders. But this number could still go down by the time the Privacom finishes its r...
Read more

Daily Notes

By -
Image
Daily Notes Top Losers: BDO, lower low, currently at overbought levels (RSI = 85.7, highest for the past year) JGS RCB MWC, most active list ALI, most active list Stock Watch AT higher high, resistance at MA130 (4.9), intraday 4.45 (highest in the past 3mos.)
Read more

BSP eyes measures to curb peso climb

By -
Buy more Philippine Pesos??? BSP eyes measures to curb peso climb By   Doris C. Dumlao ,  Michelle V. Remo Philippine Daily Inquirer The Bangko Sentral ng Pilipinas said 2013 could be a challenging year as far as preventing an even steeper appreciation of the peso was concerned, noting that a potential investment grade credit-rating for the country could drive more foreign portfolio investments. Admitting it was actively buying dollars from the market in 2012 to temper what could have been a sharper appreciation of the local currency, the BSP said it expected the need for more action to keep the peso as less volatile as possible next year. “Capital flows from a [potential] credit-rating upgrade will provide more challenge in terms of keeping the peso relatively stable and minimizing its volatility,” BSP Deputy Governor Diwa Guinigundo told reporters Friday. In 2012, the peso appreciated against the dollar by more than 6 percent partly on account of signific...
Read more