NINE 12/22/2022

rudcharts Updated   
NYSE:NINE   Nine Energy Service, Inc.

People have been waiting for the “Santa rally” and have been getting burned left and right buying Long trades.
Santa has been in NINE the entire time!

I gave you guys the entry just before the break of the Ascending triangle…

This one is giving us yet another opportunity to enter.

NINE 15min chart analysis.

Price broke thru resistance area of 11.00, breaking it out of the Ascending Triangle pattern it was in. It will look to continue its parabolic uptrend if it remains above the breakout level.
Price then reached a high of about 12.90 before pulling back to 11.65. This pullback was also to the 50ema which is acting as Dynamic Support.
We currently also have an oversold stochastic reading.

The last entry was a pullback to the 50ema support with an Oversold stochastic reading.
We currently have another pullback to the 50ema support and an Oversold stochastic reading.
It really can’t get any easier than this….Uptrend + pullback to support + Oversold stochastic = Long entry.
This is my cue to enter trade long.

Didn’t expect to get another entry this quick. Santa is coming to town! Blessings from Jesus Christ himself

Entering trade long

Entry: 12.07
Stoploss: 11.45, -5.14%
Target #1: 14.75, +22.20%, 4.32 RR ratio
Target #2: Trail 50ema
gotta love it!
Updating to Target #1 to: 22.00, +82.27%, 16.02 RR ratio


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