@thevagrants ; Apologies for delay in response. What a Tennis...

@thevagrants ;

Apologies for delay in response. What a Tennis (Loved it ).

True bit more volume in upward direction would have been good. But I ain't worried about it too much. I use TA only to back up my decision taken solely based on fundamentals. However, if TA doesn't favor for a day or two it shouldn't worry me at all. I believe more in my own research and analysis done behind the product and huge potential in future.

However, if we look at daily chart; today wasn't a big dumping day (Despite overall market getting hammered past few days) & despite we went over 60% on heavy volume (over 50 Millions), we ended up in forming a nice little shooting star. Could be very bullish indication for coming days. NXR did hold well after trading over 50 millions in past 4 days with average around 7.3c. Today was just a very minor correction and flush out quick runners of the stocks.

When stock is backed well by fundamentals weekly chart can provide you much better picture of short-medium term than the daily chart or Intra day (That could be used most probably for daily trades).

NXR Daily Chart: (Avoiding Tech Jargon in explanation)
1st Circle : Oct-November run up and then sell off due to profit taking and later slowly due to options expiry. That's what i was waiting for to get in to NXR.
2nd Circle : We started fresh run after options expiry and volume and price gradually increased with Higher High and Higher low.
3rd Circle : Starting similar to first circle and to correct direction (Strong uptrend). However, We haven't seen sell off at lower price yet with big red candle with higher volume and that's perhaps the most encouraging. So sooner or latter I am seeing third circle to get filled with SP moving over 9.5c.



NXR Weekly : (Avoiding Tech Jargon in explanation)
1st Circle : October-Nov run up and profit taking.
2nd : Consolidation due to options expiry
3rd : Fresh run up and Phase 2 update, commercialization deal and no options expiry - YOU TAKE YOUR CALL. On Weekly, we have just set up BULLISH pattern for fresh run up. Long way to go yet folks .


Conclusion : If trading only based on TA , mostly rely on daily and intra day chart.
If trading/investing based on FA backed by TA when news is expected in few weeks, look at the weekly pattern for short-medium term and that could help you a lot.

Just my humble opinions. Please DYOR before taking any decision. Please feel free to correct and provide your opinions.

Cheers
J