@tigertiger2I can tell you why I bought NXS yesterday, as the...

@tigertiger2
I can tell you why I bought NXS yesterday, as the reasons would be valid for an entry today as well...
Almost purely technical perspective here, though I did have a peek at the quarterly results before entry...


The weekly chart shows what is visually a clear bottoming pattern (although it is not a true Rounding Bottom
as classified in Classical Charting). These types of bottoms are challenging in terms of timing an entry but
the daily chart shows a 32-week Rectangle Pattern, the last few weeks of which form Cup & Handle with a perfect
volume profile.
The upper boundary was penetrated decisively on Monday with high volume relative to the previous few weeks
of trading activity. That is a classic breakout trade entry. I only came across NXS yesterday mid trading day and did not
catch the initial breakout Mon. Yesterday it perfectly retested the boundary @1.39, which is very common before a
continuation as tight stopped day traders are shaken out. It provides a second entry opportunity which I took with
a stop loss at 1.345. The minimum measured target for the Rectangle is 1.690 providing a 2.5+ risk/reward ratio from
my entry @1.44. That classifies as a great trade opportunity IMHO. Had I seen it a few hours earlier I could have had an entry
closer to 1.39 for a 4+ risk/reward ratio which is exceptional. Picking it up early today on the first sign of bullishness would
have still provided a sensible trade.
Although not personally a major factor in my trading, there is also a Golden Cross today (ie: 50-day Moving Average crossing
the 200). It is considered by many traders to be a bullish entry signal.
No guarantees that such trades will be successful but if one takes these definable opportunities when they arise & focuses
on keeping the trade metrics as favourable as possible, one will succeed over time.
Hope that helps. & best of luck...