There was a large H&S last year that played out with that plunging low of 2.97 19Th Dec 2016.
It does appear to be forming up another smaller H & S coming almost immediately off that larger one last year, however Im not convinced this will play out with another major leg down from Kinas stated neckline of 3.75.
I prefer to look longer term as to the trends set by NST, i.e., weekly bar chart(s) 3yr and 5yr.
This shows similarity to a H & S but IMO more like a standard pullback after a stellar run of sorts.
The period July-Dec 2016 being cash out time for many Id say.
She looks now like trying to continue that great up trend, and understandably so if you chuck in the fundamentals.
Thats my story and Im sticking to it.
Still a great share for trading the runs and gaps.
Looking at the 3yr weekly bar chart there is only 1 single gap that is yet to be filled and guess what, it's on the upside from here.
Left open early August last year the gap from $5.11 - $5.00.
Seems a reasonable not so long term target to me considering the upside in POG and NST in particular with its cash position and ongoing production and not forgetting management second to none.
Might be a few months away yet or if it is closer then hopefully not leaving any gap on the way up.
Exploring Kinas H & S, one can see that gap in the daily bar chart at 3.36 - 3.43 being filled on the subsequent dive down from that neckline break and possibly making a double bottom around the 3.00 mark before moving back to the major uptrend on the longer term charts.
Right now, it's waiting time for me re. taking any more LT position further than what I already have free carried.
lets see that currently forming H & S be confirmed or written off first. To write it off needs to really start moving further north from here, maybe a slight dip into high 3's but then back north, otherwise we could;d be seeing that neckline play out.
About all I can think of for the moment.
All IMO.
(20min delay)