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NCM $20.28

a jumbo of a take off:- 7-4-7

  1. arhidas

    753 Posts.

    Now that the stock proved me wrong by closing above $7.10 albeit for just one day, it is under presure to keep on closing above this level.

    The next target NCM must take out is $7.47.

    This is the level NCM needs to quickly take out becasue if it struggles below or at about $7.10 then it would be under pressure to correct back down to about $6.80.

    Failure here by trading and especially closing below $6.54 would sent the stock a lot lower then most people would expect. To be specific NCM can trade below $5.50 and as low as about $4.70 and even lower.

    In the meantime the stock did manage to close above $7.10 and therefore commands respect.

    The owners of this stock would not want this to be simply a one day wonder.

    Arhidas was wrong even if it turns out to be a one day wonder ... Next week is just another week.

    Neither short or long the stock.
    Hope the comments help someone out there

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