gut feeling says rally will take a break

  1. 1,047 Posts.
    NCP has recently had a great run.

    From less than $9 to bordering on $13 in a month and a half.

    A lot of this has been driven by Insto's being caught short.

    With a neutral outlook for the next few months in the US, I am anticipating that the rally may just consolidate or fall back abit.

    Time to take the profits and look for the next entry point.

    Having said that if News Corp breaks $13 with any intensity then I would have called it wrong.

    This is a gut feel call, although if NCP closes today around $12.80+/- 5c, then a bearish candlestick pattern will be in place as well.

    Good trading
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