STTrading weekend thread 24th and 25th of February 2024, page-32

Not a pro here. NXM has a lot of promise but I don't see it doing a lot over the next few months.

This is the weekly chart of NXM.



This mountain like pattern is commonly the first shoulder in a head and shoulders like pattern.




That is why NXM has a lot of promise long term. The head which is next could take the share price above the last high of 64c.
Before any uptrend there is usually a small pattern which sets up the uptrend. This pattern usually stays in a small share price range. It could take a while for this initial pattern to complete. If you're happy to hold for a while then it's my opinion that these prices are good, because the stock has hit a support level at 3.4c . The small range is not so small, it could be anywhere between 3.4 to 5.4 so could be a good small trade. Ofcourse I could be totally off though, take this TA with a grain of salt.