I have been waiting for about a week for NRTs technical position to improve and it looks like it it coming together.
In terms of the daily chart:
Two recent higher highs have been supported by higher lows and confirm a new uptrend;
Consolidation after the last higher low (11.5) should support the next trend leg up;
The channel from the last retracement has been broken;
Stochastics fast line has hooked over and is now moving sharply up;
Momentum has been positive over the higher highs and does not appear divergent;
Moving Average Convergence Divergence fast line has turned upwards;
Price has moved above the 15 period exponential moving average; and
General demand continues to outstrip supply.
These factors significantly increase the probability that the up trend will be continued.
NRT Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
