I usually don't post ideas with intraday charts but I have found that after a big move up the 55 min and 13 min work well to establish key levels at new levels.
After consolidating at the $6.25 range for several days the price broke out of the range with volume and managed to close above the .38 fibonacci level.
Today (10/26) NLST gapped up nicely to open at $8 and by mid day filled the gap down to $7.5 before moving up the remainder of the session.
The gap fill to the .38 fib level and the imminent break out of the pennant on the 55 min chart are both very bullish.
I am long NLST but I think this is the start of a multi day rally back to the 52 week high level.
Damages awarded and possible settlement news will be the big fact here but on a technical level it looks like a runner.
Hi Boss, Any change in your view after last few days volitality and with court date postponed by two months.
Still not fully invested in NLST as much, would want to so being patience and looking at figure to buy.
Wondering if it may test the recent lows it made in September.
Master_of_Fine_Charts
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@smithstone75, That delay pretty much screwed up my analysis for now. I think 6.53 should act as support and tentatively it looks like its starting another up trend altho its a bit early to confirm that.
smithstone75
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@Weedkiller420, Thanks. Will wait and watch as was looking to accumulate.
smithstone75
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I got carried away with gap at $5.10 or would have added some more.
Still not fully invested in NLST as much, would want to so being patience and looking at figure to buy.
Wondering if it may test the recent lows it made in September.