NVX Chart, page-3041

NVX is attempting a breakout from a 6-week H&S bottom pattern that formed within a weekly
resistance "zone." This coincides with a break above the 5- week SMA for the first time in
quite a while. I have discussed the 5- week (and 5-day) SMA's and why I keep an eye on them
in some of my previous posts. The minimum measured target is circa 3.22 and if it gets there
I will consider holding a portion for the potential filling of some higher gaps. I am long at 2.67
with a stop below the right shoulder and weekly 5-SMA at 2.29.

** I have not done much trading at all in the last couple of months and even less posting.
The market has not provided me with the type of entries I require. I am grateful this has
given me the opportunity to focus more on other areas of my life. Patience is key in
the game of trading and I have avoided quite a bit of trouble by employing some of it
in recent times.
Relatively small patterns (some posts and some pre-breakout) similar to this H&S pattern,
have been appearing on a range of stocks and on some of the indexes. I am not convinced
we have seen the end of the turmoil but I will take trades that provide valid entries, with
managed risk.
All IMHO & GLTA