NVA 1.64% 15.5¢ nova minerals limited

With all due respect to your fib levels, I have been using...

  1. 367 Posts.
    With all due respect to your fib levels, I have been using technicals for over 15 years and based on real time trading and back testing nothing comes close to the correct combination of moving averages, bollinger bands, the 3 bar swing, the 7 bar swing chart, the quarterly chart and the yearly chart. Used in combination with accumulation phases and high volume to identify an impulsive break out and you have a real arsenal.

    I read a thread talking about a golden cross. I have had a good look at my charts and I can confirm the following.

    Yearly Chart. It's December and the current price is trading near its yearly high of 5.1 cents. It is a strong indication of higher prices if on the 31st of Dec price closes in the top third of its yearly range.

    Record Volume. The monthly chart indicators a game changer. Huge volume breakout.

    Moving averages. The 50 day exp moving average has crossed above the 200 exp moving average and price is above both. This is massive. Never trade against the moving averages. if the moving averages are inclining go with it. Right now price is running along the 10 ema. I call this 'the train' ride price until it closes below the 10 ema.

    Quarterly bar chart. This is the major trend. Price has crossed the previous quarterly high. For those of you looking for a long term indicator. Simply stay with the stock until price breaks the previous quarterly low. In a stock like this you could leave a lot of money on the table though. You could have invested in Dominos at $6.25 and sold at $62 approx with the Quarterly chart.

    Yearly Chart. This is the most amazing chart of all. We want a strong close this month. IMO around here or higher. Then next year we want to see price cross this years high. Expect an accumulation phase (sideways trend) during the non results phase. Trust me, this is where you'll get bored and want to drop off the radar. Read Trading Chaos by Bill Williams, How I made 2 Million by Nicholas Darvas, Market Wizards by Jack Schwager and Way to Trade by Tom Piper. This should give you something to do during this phase - it could last for six months. To be truthful, during the accumulation phase you need to protect yourself from your left hemisphere (this is your dumb brain - the one that causes you to break the rules - yes, we all do it, even the pro's)
    you should stay away from Hot Copper and live data. Ed Seykota said: Never watch live data, you'll forever be feeding it. In other words you crave the drug effect instead of the desire to ride the trend

    So in summary. Price is above the 200ema and 50ema, tick. Price is tracking the 10 ema tick. Explosive volume break out. Tick. The 50ema is above the 200ema tick. We are looking at a possible impulsive 3 bar swing setup. Not confirmed yet. We recently had two lower days and price found support on the 10 ema tick. We have a higher quarterly bar Tick. Waiting for confirmation of a higher yearly bar next year tick. We have insatiable demand for Lithium, a great CEO, a possible 46MT resource, Far next door willing to talk. Next major resistance is 9.1 cents. It will hit this hard but if it can break through it will also become a floor. Old tops become bottoms and old bottoms become tops.
 
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Last
15.5¢
Change
0.003(1.64%)
Mkt cap ! $37.75M
Open High Low Value Volume
15.3¢ 15.5¢ 15.0¢ $15.88K 102.8K

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No. Vol. Price($)
2 45773 15.0¢
 

Sellers (Offers)

Price($) Vol. No.
16.0¢ 100000 1
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Last trade - 16.10pm 30/08/2024 (20 minute delay) ?
NVA (ASX) Chart
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