Still looking to enter so have come up with NCM likely turn points after identifying that since Oct 08 NCM has retraced to fib support on all three ocassions meaning 100% compliance of the fibs;
$29.30 - 38% fib retracement from Oct 08 low and also acted as resistance in the rally from Sep 08 low
$28.90 - 100% fib retracement of the last leg up (also known as last pivot low)
$26.87 - 50% fib retracement from Oct 08 low
$24.45 - 61.8% fib retracement from Oct 08 low
So looking at the above it appears that if not an ultimate low we should get a tradeable low between $28.90 and $29.30. This area also acted as resistance in Sep/Oct 07 and support in Dec 07.
NCM Price at posting:
$30.00 Sentiment: LT Buy Disclosure: Not Held
