*** NCP - UPSIDE FROM HERE

  1. 346 Posts.
    Gemstar - fully factored in yesterday, only worth less than $.50 per share to NCP and cannot justify such big falls.

    $A has slipped from highs so far intraday, seeing the overnight close equivalent in US ADRS above $10.60. Expect a RALLY in the afternoon.

    And if it does rally, we see a tenative "Bullish Engulfing Pattern" or Hook reversal on the charts.

    US Market hammered out a reversal pattern on the Dow and Nasdaq last night shich bodes well for coming days.

    NCP Monthly chart shows suposrt around $10.45-10.50 which has held for 2 days, forming also Tweezer bottom on daily chart.

    Strategy:Buy NCP stock, NCP Calls, Sell NCP put spreads. Stop loss $10.18
 
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