Don't agree with psychosis on the doji. Yesterday was a solid reversal in sentiment and the almost engulfing candle is very bullish. Close to a piercing pattern, which is also a strong reversal signal However, whatever you call the formation it signals a reversal could be in the offing. Add to that a huge gap on the open today on large volume and you have a stock with a rocket under it.
The rally most probably relates to the figures due to be released tomorrow and in my experience the gap will be filled.
I have been watching this stock very closely, having traded it a number of times over the last year. Yesterday and today caught me unawares and after the gap on the open today I decided to stand aside and wait for a pullback - likely to come after the announcement. Too risky taking a long position in NMS just now IMHO.
NMS Price at posting:
0.0¢ Sentiment: None Disclosure: Held
