dRends35

NNDM - Ultra Deep Value Play 2 🧐

Short
NASDAQ:NNDM   Nano Dimension Ltd
Nano having previously rumbled the support area has 2 more distinct areas with plenty of fib confluence.

From bottom to top 0.382 and 0.5 find the two support areas.

Then the 3 recent pivots from the top shows ABC - C wave target in similar areas for 1:0.618 and 1:1.

...

First price target for 1:0.618 ABC @ $4.9 -$4.43

Second price target for 1:1 ABC @ $3.2 - $2.8.

I will be buying in these areas.

Not advice.


Comment: Price in a tightening descending channel making contact with previously rumbled support area.

A lot of buying pressure in this support area will have been exhausted from the previous bounce.

From here price will probably either -

  • Break to the downside

  • Have a bounce to a regressive fib, probably 0.382 or 0.5 before continuing down lower.

Comment: Outcome:

  • Have a bounce to a regressive fib, probably 0.382 or 0.5 before continuing down lower.

Price has broken through support. Earnings is coming up, but I wouldn't touch this after a impulsive support break. It could have a bounce on earnings but ultimately support is twice broken and very good chance lower prices are coming.

Comment: Price has tested and had a first rejection from support turned resistance. It could hang around, but good chance price will be heading down again soon enough.

Comment: Activity and multiple fakeouts testing the support / resistance horizontal. After an extended fakeout to around $6.85 price has collapsed back to support and probably revealing where the trend is.

This support has had a lot of testing now and this is building cause to the downside. I'm expecting a big drop soon enough and then some of the comments on this page may be humourous.

Comment: There may be a small pop through the 50Dma, but a rip to the downside is coming soon enough. Too much touchy feely with support. Liquidity has been tapped.

Comment: Any questions?

Comment: 1st target hit but I think there could be quite a way to go till the bottom yet. Things are starting to turn bearish across the board.
Comment: Now sub $3 - getting smashed 🔨
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