Yep, so back to charting, further to my last entry it did shoot slightly past that first channel resistance (which I readjusted now to the higher price as per below). It was only by about .15c (on the gap up green candle, and then opened lower the next day at the roof of the old channel ceiling and fell ever since. You can see the market is respecting some (not all) of these levels Im keeping an eye on. Next stop would be visiting a couple of those lower trends if the market continues to be bearish.
On the daily EMA's, that $16 level is an obvious sticking point. The divergence in MACD and trend for me is a ST positive. And to the weekly EMA, again pointing out the battle at $16 with the 35 week EMA, seems like a sticky point. LT Volume is building which is good. The big negative is that crossover which is usually an indicator of a reversal in trend (for me). To put that into context, the positive trend had lasted for just over 3 years!
Overall my gut feeling is that we will see lower prices to around $11.80, then $10.60. If the market continues to be bearish then that gap from $7.83-$9.74 will come into play. However at @ $10.60 that is a MASSIVE level as that is the primary bull trend floor, and a good spot to take a bigger position, even for some bounce trades. GLTAH
NEU Price at posting:
$12.36 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)