Thank you for the details explained. In relation to the chart and your arguments I would like to make a number of points:
1. Mathematically speaking it is not correct to draw a chart on a large price scale without usage of a semi-log scale. A simple example can be the following: a 1 c price change is different for a stock as NMR now and for the stock with a $1 price. Taking this into an account the trend lines will be different from the drawn by you.
2. You are using 195 ema line, but other people using different values, some 10, other 20 and so. Even more, this kind of a characteristics is pure empirical.
3. If you draw a trend line starting at the bottom of a low candle on 16/12/2011 at 3.5c then you will see that this trend line shows support of at least 5.2c. Again different people may draw this trend line in slightly different ways.
4. Looking at the candle formation it seems that at the moment 5.1c should be a temporarily support, then if it is broken then next support level is ~4.4-4.5c.
5. At the same time depending on the market sentiment these 2 support levels can be easily broken in a case of DJ collapse.
irynka
NMR Price at posting:
5.4¢ Sentiment: Buy Disclosure: Held
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