Alert for those LONG ...

  1. 5,816 Posts.
    Hmmm.. decision time for those LONG in NCP.

    Chart shows second of two recent LONG trades having nice green for those who let the profits run.

    NCP broke thru previous resistence at $12.30 and Fib(50%) but nervousness saw some profit taking.

    NWS closed down US$0.28 overnight which in my head is about $12.44 locally so no boogy men in the wings for Monday.

    IMHO 50/50 we could see either weakening and consolidation at $12.30 before the next positive move or further upside if profit-takers done for now.

    RSI is in overbought territory so a technical question mark here.

    Be prepared to take profits and tight stops.

    Chart looks like this...


    This is only my view ... read the red stuff.

 
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