NLST is currently oversold on the daily with an RSI of 40 and a MACD that is starting to curl up.
On the 55 min chart we see a double bottom that follows a down trend. This is very bullish. I like the consolidation in the 4.80-5 range that followed and the higher highs reaching the top of the Donchian channel.
I anticipate some resistance at $5.14 but expect a move higher on the break of $5.14
target: $5.49, $6.06 in the short term. Likely next week.
On the 55 min chart we see a double bottom that follows a down trend. This is very bullish. I like the consolidation in the 4.80-5 range that followed and the higher highs reaching the top of the Donchian channel.
I anticipate some resistance at $5.14 but expect a move higher on the break of $5.14
target: $5.49, $6.06 in the short term. Likely next week.
