brentus33

Namaste Dragon Pattern Confirmed!

Long
TSXV:N   NAMASTE TECHNOLOGIES INC
Namaste has a confirmed Dragon Pattern Breakout, plus backtest of the breakout. Three targets are posted on the chart at the Dragon hump, head and the 1.272 fib extension (as per dragon patterns). This stock has gotten beaten down over the years but has shown strong accumulation over the past 6 months and a confirmed bottom on a major historic ice line. Huge volume the past month further confirms break out and turnaround. Fundamentals have gotten extremely strong the past month with the recent announcement of planned entry into the US. This could be either a swing trade and/or a position trade.

Comments

Looks great! Just received their license today from Health Canada. Lots of positives. , Any gap fills to retest before the next up move? I see a couple of recent strong moves.
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brentus33 saint59
@saint59, No gaps below on the daily. The 4hr just made a gap on Friday due to the halt, but it may not play out and is close enough to not really matter. I really like that ice line (and 0.236 fib) back test of $0.32 CAD as support on Friday before the news broke and the stock popped. Showing signs of accumulation now. Really want to see it close above $0.425 and show it as support for the real strength test. Should come in the next week or so if price action stays strong, as it should. Higher lows and higher highs will prove this one out for the bigger targets in time.
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