NBG price is revisiting the lower MLH of minor fork b. Looking for price to show signs of support in this area. Major fork A is still in control but price is showing signs of of a retest is coming of the center line of fork A. This will be the biggest obstacle to the target 3.60.
Comments
littleriver
⋅
False break followed by more decline. Fork b redrawn to reflect what has happened. Price is coming off Lower mph of this fork. Suspect a second test of this median line. Looking at Weekly RSI there is some positive divergence.
A-shot
⋅
Not amidst this blood on the streets. Price gets crussed towards 3.0 like in previous highs and should EuroStox go down, and with this pressure, im suspecting a break below 3...unfortunately as i previously made good gains on NBG between 3 and 5
littleriver
⋅
Thank you 2use for the warning. You may well be right on this one.
A-shot
⋅
I have the same chart from the second touch of around 3...and im not touching it until it gives a clean break - yesterdays attempt got so whiped out and its not quite bottoming yet....I hope we both make a buck on it some time in future - thanx for the charts!
A-shot
⋅
Well, it played out just as i suspected it would. Might be short term oversold indeed. Good for scalping 10% usually, but i refrain from buying downtrending stocks in a red market.
littleriver
⋅
You were right on with this call. Sounds like good policy. I am going to adopt it. My personality tends to be overly optimistic and that is reflected in the charts which can lead to trouble. Thank you for the tip!
A-shot
⋅
You know, i think you are right on being overly optimistic - i have the exact opposite ;) It is good to realize this before you loose. But it is good to be optimistic in bull markets/trends, and be a bear in bear :) This is why timwest's long charts are better than shorts. NBG is also a weak stock, and gets manipulated here and there, dont put a lot on it
A-shot
⋅
BTW, i would not advise you to buy it now. It is below a long term support level and it may not be the end of the fall.
A-shot
⋅
A-shot
⋅
One of my best exits actually :_) i see i sold at 5.32