NXL is sitting in one of my fav trading scenarios right now and i bought in yesterday close to trade close at 2.58.
1) Heavily sold off stock
2) Sitting at the bottom of a long term range
3) Lots of juicy panic gaps up top to close
Downside is limited here i.e. if the SP drop below the bottom of the range sell quickly and limit losses. Downside is low as we are already at the bottom of the range.
Upside though is close to 30% on first gap target. So i can invest a large amount here and limit my downside to say 1 or 2% but if it works out i can easily make a quick 30% on change of sentiment.
The key is to ignore emotion and sell quickly if the range is broken. Might not work out but the ones that do pay off big time.
15 MIN chart below
Chart
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 (20min delay)
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Last
$2.93 |
Change
-0.090(2.98%) |
Mkt cap ! $947.9M | |||
| Open | High | Low | Value | Volume |
| $3.02 | $3.02 | $2.91 | $969.0K | 328.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 408 | $2.92 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.94 | 24431 | 5 |
View Market Depth
| Last trade - 16.10pm 05/06/2024 (20 minute delay) ? |
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Last
$2.93 |
Change
-0.090 ( 3.73 %) |
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| Open | High | Low | Volume | ||
| $3.00 | $3.01 | $2.91 | 37526 | ||
| Last updated 15.59pm 05/06/2024 ? | |||||
| NXL (ASX) Chart |