NVX Stock Price and Chart — ASX:NVX — TradingView Set to 1 year...

NVX Stock Price and Chart — ASX:NVX — TradingView

Set to 1 year view then All view, Extended Consolidation ends and the breakdown to new lows begin?

I see this across many popular stocks...as I had mentioned, extended consolidation does not bode well. Especially if exuberance was merely on the back of popular sectoral growth narrative that has yet to be matched by actual delivery of outcomes. Even those which are actually in production would face strong headwinds as the narrative fades.

I have seen happening in all major bear downdrafts, the popular sectors are the last to fall, when sentiment turns bearish, market participants are quick to start locking profits, even though longer term fundamentals remain good.