Using 15 minute charts to call bottoms is never going to be accurate. Don't follow his chart information Monthly charts are how you find the true bottoms, strong resistance/support levels and trends. Weekly maybe to fine tune but 100% not on 15 minute charts. I would stay out of this stock at the moment if your not in it already and wait until there's conformation it has found the next low and is in an uptrend using monthly in conjunction with weekly charts. I'm not trashing this stock at all and will enter when the bottom has been confirmed. Your better off to lose some gains in the reversal and trade on conformation. Trading in the hope for take overs, announcements and trying to catch the bottom is not going to work in the long term.
I have highlighted in yellow the last bottom and reversal for reference. Wait until the price action has broken the short term momentum line and closed at least twice above the trendline on the weekly, then enter. I use the weekly for entry and exit. You do lose some gains on the reversal but you really increase your chances of trading from a low and it leaves plenty of upside.
NEU Price at posting:
$12.33 Sentiment: Hold Disclosure: Not Held
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