down trend slowing

  1. 236 Posts.
    yesterday ncp
    high 940,
    Low 919,
    Close 939,

    Close finished towards the high indicating that buyers are coming back into the market and a possible change in the trend.

    Today
    high 945
    Low 933
    atm 936

    Higher high and higher low, signals a change in the trend. ATM price is closer to low, but if ncp closes towards 945 today, and tomorrow sees another higher high and higher low could be a good indicator for an up trend.

    Having said that I would not enter a long position until after 960 with a clear up trend.

    Must be careful picking up trend for this stock in this economic climate....

    Don't think ncp will stop the down trend, i think tomorrow will see a lower high and lower low to continue the down trend towards the strong resistnce level of $8.50. If it holds $8.50 and breaks thru the trend line with a new low higher than the trend line I would go long
 
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