AngusMcK
Long

ASX:NAN - Might be heading back up.

ASX:NAN   NANOSONICS LIMITED
143 views
2
Quick Sunday night look at NAN and see where it might be heading.
Comment: As a follow up, you can see that it was heavily sold off in the premarket before opening on Monday morning, where it did indeed have roughly a 3% gain for the day, but then was again massively sold off after hours and has continued its downward decline ever since. I didn’t take the trade as I could see on the opening sell off that there was still downward momentum despite signs of a short term rally.

Comment: Convincingly broke above $4 today and maintained it on the lower level 15 minute chart. Will be interesting to see if it can maintain $4 as its new support level over the next few days. It was up over 12% today to get there and not a lot of market depth on the buy side above $4 so have to see what happens.

Comment: Nice little 5%+ gain today. Its giving back some ground though towards the close.

Comment: Back up against resistance. Look for it to breakout (or collapse). Important next couple of days. My feeling is it will push through, but I'll run tight stops for the next couple of days and if it gets through will loosen them to give it more room later.

Comment: Nanosonics had a great run all the way up into the $5 mark and I was hoping it would retest and try again but it is running to the downside. Have my stop in at $4.29 to give it a little more room, but it's almost back down to my entry so if it hits the exit I'm out. Can always come back in if it runs again later :)

Comment: NAN is having another breakout run, so now up roughly 120% over the last 12 months from when we first looked at it.

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