what will it take - go up!, page-36

Momentum seems to be turning in NCM's favour.

On the daily chart:

1. MACD histogram is moving up.
2. 13-Day EMA has kicked up.
3. Slow Stochastic is above its signal line and moving up above 50.
4. RSI now at 48. Prior resistance at 45.3 on 24 August and 44.2 on 17 Aug. A break above 50 would put this in bull territory.
5. On Balance Volume also above recent resistance.

On a line chart (close basis), if NCM continues to hold up today, it will have broken the short term trend line from 4 August.

Since 21 August, (assuming NCM holds up today) the stock chart will have formed a higher high, and a higher low.

These technicals are almost too perfect. What can go wrong? You never know.

But this is looking good to me for the short term (up to a couple of weeks).

Given the poor technicals on a weekly basis (couldn't get any worse? mentioned in my previous post), this looks the goods to me.

As always, I think it is wise to trade with stops.

Cheers
Red