NINE 11/11/2022

rudcharts Updated   
NYSE:NINE   Nine Energy Service, Inc.
NINE 15 min chart analysis

Beautiful day as expected!
Look at those big beautiful green bars today. We can see momentum flooding in as the size of the bars get bigger. The buyers are starting to flood in and keep pushing the prices higher.

Price ripped up from 8.25 to high of 10.10 but has since pulled back down to 9.00
It’s looking to find strength from 50 ema and bounce.
If price bounces off 50 ema, momentum should continue to expand and that means bigger green bars and quicker movement to higher prices.
The trend should continue to intensify and this one might see $18.

adding more
Entering trade short.

Entry: 9.01
Stop loss: trailing 50ema
Target: Trailing 50ema
update to the following ideas

Price is cornered and running out of places to go.
Tomorrow or Wednesday this one takes off.
to keep me humble, this will take off a day or two later than expected


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