etradegoods

NNOX Long this support level

Long
NASDAQ:NNOX   NANO-X IMAGING LTD
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2
FDA clearance for their single source NANOX Arc just on April 2, 2021, and was heavily shorted
Comment: Engulfing bar at the bottom, strong oversold. Could reverse from here

Comments

The yellow channel has beed a good support so far. Do you see a sub-30 level, or the bottom of channel is a good buy already? TIA.
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TEAL39 HHSPN
@HHSPN, We're currently below that now though right? And by the looks of it, if 30+ doesn't hold, might come down to 26-27?
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HHSPN TEAL39
@TEAL39, Thanks. My first question was when we were not in the yellow zone yet. Bought some at 35, at the bottom of yellow support. Looks like more opportunities to DCA.
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TEAL39 HHSPN
@HHSPN, It held 30 today decently well despite a chop and crappy market so it might be forming a new structure. Oversold imo but growth and mid cap has been struggling lately
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HHSPN TEAL39
@TEAL39, for sure. Never thought the price can be this low after FDA approval for single source, but rightly so the company has lot to do to generate revenues etc., Prices will be choppy to move from story stock to proving the story. I'm in for long haul.
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@HHSPN, NNOX breaks long-term support but now is oversold. New low prices for NNOX could be expected until the price pattern change.
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