NVX Chart, page-4058

Not sure. 1 day of trading activity is hard to draw conclusions, as most of what happens, is only explainable after the fact. TA isn't a prediction tool, its a reaction tool, using the ability of confluence (stacking the positives vs negatives (if bias is long)). Try to understand the complex world of shorting and covering, as that is what generally results in the bounce/rallies that you observe across equities. But again, it is impossible for retail to find timely information, untill after the fact. There are also a multitude of other reasons why a stock bounces/rallies also. Yesterdays bounce could be smarter heads closing shorts and going long in anticipation of this announcement (perhaps they knew of it before the release today?). Complex world, alas.

I would look into Stage 1 to Stage 4 concepts (stage analysis), as that has assisted me in finding where an equity is in its own cycle. In relation to NVX, still waiting for Stage 4 to finish.