The 20dma is just above $39.20 and could offer resistance so you could be right. The trading pattern of late also indicates the path you suggest.
My trade from yesterday's buy is still live so I hope you are right. Neutral DOW last night and that reversal back up to $1800 is giving this a good chance. The move was right on target yesterday however not with as much gusto as my last trade.
The XGD is making higher highs and higher lows now however NCM has failed to agree so far. Bit of divergence there.
Good luck today to all. CW
NCM Price at posting:
$38.34 Sentiment: LT Buy Disclosure: Held