NWE 0.00% 5.6¢ norwest energy nl

Charts, page-62

  1. 27 Posts.
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    Chart from September 2021 - 9 March 2022
    https://hotcopper.com.au/data/attachments/4158/4158237-6a3b17c6e68691ad219e7771afbe0136.jpg
    Long-term uptrend represented by light green trendline support from September 2021. Will show significant support at this line.
    RSI Indicator
    Still very strong support on trendlines in the bottom RSI indicator. As per my previous post, Purple trend-line showing RSI showing long term uptrend and has not been broken since 15 Feb 2021 - very strong line of support. Green uptrend line on RSI showing support since Dec 2021.

    Shorter Chart
    https://hotcopper.com.au/data/attachments/4158/4158231-5d4aec9c2734b378e17451a321e8ff1f.jpgPrice showed support at top of the 'handle' and on increased volume broke through the resistance at 0.034 - 0.035 and most importantly closed above the resistance (0.035) and closed at 0.037.
    • New 52 Week Closing High
    • Expansion Breakout - Stock makes a two-month calendar High.
    • Pocket Pivot - A pocket pivot is when a stock closes up and the volume for that day is higher than any volume for a down day in the prior 10 days.

    Volume was not just higher than any volume for a down day for 10 days but since 22 September 2021.
    Hidden Divergence
    The white circles represent a hidden divergence on the stochastic indicator ('standard' divergence – where the price of an asset and an indicator move in opposite directions).
    Hidden divergence is created when the price of a asset carves a higher low, while the indicator creates a lower low. A bullish hidden divergence happens during a correction of an uptrend when the value of an asset makes a higher low. However, the (stochastic) oscillator is still showing a lower low. In this case, it suggests that the uptrend will continue.

    There are some signs of a regular divergence, although I suspect that the hidden divergence to be a better representation of where the price is going (up).
    Price may have a retracement following such a strong day. Although the previous resistance at 0.034 - 0.035 will now be a area of support. Price may therefore retest the now level of support and suspect it to stay above this area. Fibonacci levels 0.382, 0.5, and 0.618 are at the 0.034 - 0.035 also will be levels of support.
    Price has risen above upper Bollinger Band, hoping for price to do a walk on the upper Bollinger Band and make further highs.
    Upon further analysis, I have reassessed that the next resistance to be at 0.045.
    GLTAH

 
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