While I wouldn't place my faith in the "arts", I find your comment interesting. It must be like the old psych picture of young lady old lady.... lol
Perhaps your definition of a descending triangle is different to mine, but my (and thought the relatively "standard") definition says that a descending triangle as a BEARISH signal would need a steep DECLINING downtrend immediately before the pattern to be such. In this instance, this is certainly not the case! It is a steep incline leading into the pattern.
If applying TA to NMS at present, I would read it as a classic pennant pattern (or flag or continuation wedge ... all slightly different versions of a roughly similar meaning signal). A steep uptrend that forms a near horizontal triangle and then indicates a strong possibility of a continued strong incline. A VERY bullish signal ! Put this alongside other TA indicators and methods, including a DMI+ that is sitting on 15 or so and it looks extremely bullish.
THEN, put that alongside the fundamentals that have been coming together at a crazy rate in the last few months and this company looks simply sensational.
One man's poison ....
NMS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
