Hi All,
I have been watching this stock for some time... Today I have taken my first entry, I tendency to do a average of 3 entries while confirming my Technicals are on track.. IMO I like what I am seeing... I will focus on the TA in this post and when I have time will post again on the Fundamentals.. NZS is in the making of being a strong structured company with potentially massive increasing streams of revenue... I think the real re-rate is upon us.... here is a chart for those interested:
View attachment 2545175
Correction Within an Uptrend
NZS appears to be correcting within a longer-term bullish trend. Although its MACD is presently below the signal line, shares remain 1.1% above an upwards sloping 200-day moving average. Comparative Relative Strength analysis shows that the stock is lagging both the S&P/ASX 200 and the Consumer Staples sector average.
Bullish Momentum
Momentum for NZS is improving. The 14-period Slow Stochastic Oscillator is rising as investors begin to purchase shares.
Bearish Longer-Term Volume Pattern Improving
Volume, as measured using the On Balance Volume indicator (OBV), shows that longer term selling pressure has given way to near term accumulation. Though seemingly Bearish at present, indicators are on the turn IMO..
Recent High Volatility Signals Potential Pause in Trend
Bollinger Bands use standard deviation of the closing price around a moving average to measure volatility. The Bollinger Bands are presently wider than usual, as a result of greater than normal volatility that accompanied the recent price move. Events such as this may precede a pause or reversal in the near term trend. However as mentioned other oscillators are on the turn, so hence I think we are in a pause moment while its strongly consolidating at this level before a clear break out..
Over all this is worthy of entry at current levels... if bullish flag has a clear break out then we could see a strong run to uncharted territory... Best wishes to holders..
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(20min delay)