NAIL a homebuilding leveraged ETF rising from support LONG
NAIL on a 14 minute chart tested the support at the rising trendline confluent with the mean
anchored VWAP and has bounced and crossed over the latter. Relative strength lines are
crossing over the 50 level and the relative volume is showing a gradual rise. This is the
beginning of homebuilding season after all. Mortgage rates might be getting a cut. I will take
a long trade here expecting a swing trade for a few months. Targets are on the chart. They
are based on the resistance rising trendline as well as the upper VWAP bands.
anchored VWAP and has bounced and crossed over the latter. Relative strength lines are
crossing over the 50 level and the relative volume is showing a gradual rise. This is the
beginning of homebuilding season after all. Mortgage rates might be getting a cut. I will take
a long trade here expecting a swing trade for a few months. Targets are on the chart. They
are based on the resistance rising trendline as well as the upper VWAP bands.
Trade active:
Stop loss raised to 1% below break even on the move up.
Comment:
Day by day, NAIL is pounding it higher.