amex open , page-8

Thanks for the charts Happydayz (weekly) and sharks37 (daily)!

It is a new high for $$N ADRs has indeed broken previous resistance @ significant volume. The final candlestick formed a long upper wick and a lower wick similar in size of the candle's real body, in traditional interpretation that be cautious as bulls is not fully in control in the new high (previous resistance) level. On a positive note, bulls defended the resistance level even with a sudden pullback to the resistance level.

$$N ADR is still uptrend and the following trading days will unfold the resulting candlesticks and confirm whether the trend will be sustained further or a reversal signal will appear.

In my opinion, if this new high is defended (new highs may even develop) by the bulls in the succeding days even with limited upside announcements, this will be the new support level (old resistance willl be new support).