Evening guys, strong end of day price action also since 15th January shorts have been buying back shares to cover their positions. The short data shows a decline in short interest since the 15/01, posted below for your review. is it by coincidence or luck that in the same day shorts start covering NEU starts forming bullish price signals and forming a respected channel. The activity is fuelled by shorts but engineered by pros. It's exiting to be on a stock where short data is on a decline it means more inflows which pulls price.
15 Jan starts a decline on short interest.
15th Jan price appreciation begins on NEU. as mentioned by JD great close and I agree, not only is it great but very strong because it keeps the channel alive and at the same time send a message to the locked in shorts that they are on the wrong side. For tomorrow it'll be great to see the pros engineer a gap up through the $14.60 resistance locking in profitable traders (eliminate selling pressure) and scaring the shorts to do some short covering. Same setup we saw at the $13.70 gap up posted in the thread. Goodluck all
NEU Price at posting:
$14.55 Sentiment: Buy Disclosure: Not Held
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