signal to me was the consolidation around $14, I wanted to see it push up and it didnt, so why I decided to take some off the table, mainly the units I bought under $10. Still in 5 days, neu did break 10,20,50 dema's, so it has clearly broke to the downside and any technical traders would have been out.
I still have a very large position, for me, in neu but thought it prudent to reduce exposure. As I've said many times, neu from a company point of view is in a fantastic position and I have no doubt it will be worth heaps one day however as I've also said, there are many headwinds and the time imo is not right for neu to go for a significant run. Obviously all imo and many would disagree but I think when time is right for neu to resume, the chart will tell us and I think it will be more like another 6-12 months of this type of action. As I've said I've got a big position (for me) but in terms of going all in, I want a tailwind, so I'll wait. If neu drops below $10 again, I'll buy more, but otherwise I'll wait for better conditions.
NEU Price at posting:
$12.13 Sentiment: None 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)