[URL=http://img269.imageshack.us/i/ndohc.png/][/URL]
NDO: Has been trending down sine a peak of 21c on the 11th of june. Nice pennant formation that has been touched multiple times to increase the strength of the pattern. Twiggs money flow broke through its down trend indicating more money is flowing into this stock. Has been left behind in the recent rally.
Volume is beginning to pick up.
Stochastics crossed using short term timelines.
MACD turning up usng very short term timeframe.
Entry: 0.16
Targt: 21c
Stoploss: 0.15
I chose this stop because:
21day ema= 15.7c
9 day ema= 0.155
100 day ema= 0.149
Stochastics indicating oversold.
Also with oil price looking up in the short term according to twiggs analysis could expect some strength supporting this move.
However markets are looking quite toppy so I will be trading with caution, watching volume closely. Sticking to my stop losses & taking profit if momentum begins to slow.
Buy side being more than 2x stronger than sell side..
Thoughts?
short term trading opportunity
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Last
90.0¢ |
Change
0.020(2.27%) |
Mkt cap ! $205.2M | |||
| Open | High | Low | Value | Volume |
| 89.0¢ | 90.0¢ | 88.0¢ | $76.98K | 86.22K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 25000 | 88.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 90.0¢ | 13376 | 1 |
View Market Depth
| Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
| NDO (ASX) Chart |