This one has been a beauty so far. If you entered with me, you’re up about 105% if you bought straight up. The option showed us way more love 😉.
NINE is starting to intensify and will start to move a lot faster. I will zero in with the 15min time frame.
15min Chart analysis
Once price broke above major Resistance @ 4.00 area, price entered an uptrend making a series of higher highs & higher lows. While on its uptrend, price created an up-price channel respecting the 200ema. When combining the 50 + 200ema, anytime price fell between the 50 & 200ema while in price channel, it presented an opportunity to enter trade “Long”. The uptrend took price up the price channel from 4.00 to 7.30. Once price reached 7.30 it proceeded to break up and out of the price channel. Price looks to continue uptrend. After the breaking out of price channel, price found resistance at 8.20. Price continued to make higher lows into 8.20 resistance forming an Ascending Triangle. Price has since broken out from the ascending triangle. It has pulled back to resistance of 8.20 looking to turn it into support. This is my cue to enter trade short.
The 1st leg of the uptrend was completed, and price consolidated in form of an Ascending Triangle. Bullish continuation patterns in uptrends = high probability trades. If price stays above 8.20 it will continue uptrend and we should see the up move intensify
So this is a dump you think? Down 16% on my calls 70d out today :-///
rudcharts
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@KOB1337, absolutely. Look at the chart, classic pump and dump. When its done, you'll see the rip up and then the peel off. A bunch of suckers will enter at last leg then will be holding or HODL or whatever they call it when its peeling down.
How can you possibly be down on this?
NightCommando
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I am also long NINE, funny to see we trade the same tickers in the same direction lol Headed to 15.
rudcharts
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@NightCommando, i hope so. i try not to get excited on how high price will go with these types of stocks. maybe we get lucky and it'll reach 26 😂
NightCommando
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@rudcharts, 23 is also in the books but we probably come down to these levels once it gets to 15. I think energy stocks an run until March but after that they may start zigzagging / coming down.