Opened a long position today for a bounce. Seems it's quite poor on fundamentals, but technically I like the set up and think it's fallen enough for the moment.
NCM has a pretty consistent shorter term cycle plus a longer cycle that are over due for a good corrective move up, with some support around these levels. Bit of risk with the jobs report tonight but an unexpected result could result in a lot of short covering anyway and the probability was good enough to take a position at this point.
Just thought I'd put down a marker as interesting times for NCM and might be worth further discussion next week.
NCM Price at posting:
$7.26 Sentiment: ST Buy Disclosure: Held
