NLST closed just under a key level that has acted as support and resistance several times in the last 3 months or so.
This 7.90 level was also significant as far back as November 2009 when it rallied to the level after multiyear lows.
NLST looks to be setting up beautifully with a "Three inside up" pattern which retraced to the .5 fib level after meeting resistance at the 7.90 level. The most recent candle made a hammer and closed at 7.90
I am relatively confident that NLST reaches the $8.93 level some time next week (Nov 1 -Nov 5)
Disclosure: VERY **Long NLST**
This 7.90 level was also significant as far back as November 2009 when it rallied to the level after multiyear lows.
NLST looks to be setting up beautifully with a "Three inside up" pattern which retraced to the .5 fib level after meeting resistance at the 7.90 level. The most recent candle made a hammer and closed at 7.90
I am relatively confident that NLST reaches the $8.93 level some time next week (Nov 1 -Nov 5)
Disclosure: VERY **Long NLST**
