Trading at a 77% discount to book value, an 81% discount to sales, an 81% discount to NCAV, and a 43% discount to net cash, NSPR is roadkill in the market. However, no matter how great the value may seem, it does nothing for us if the price action doesn't coincide with our thesis. For this reason we must take into consideration the chart. As you can see from the chart, there is tremendous amounts of consolidation at the 0.76 to .60 price channel. In an effort to focus more on the price action, I am looking for a breakout from that 0.76 price level. If that breakout happens, it could signal the bullish thesis I laid out. A more convincing price action would be a breakout above the 50 MA. I am content to wait on this one and wait for the price action to confirm my entry.
I see people looking at graphs and plotting forecadt lines but in reality a competitor might undercut them, an earthquake could knock out machinery, someone responcible for a major project could get struck by lightning... and its over.
of coarse the opposite is true. It could be good news and breakthroughs as well but a chart shows what has happened not what will.
patterntrader
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In fact, this chart provides a different perspective of the market. This type of charting idea never passed through my mind. It is always good to keep in touch with professional traders.
Thank you for sharing this chart. Continue your good work.
of coarse the opposite is true. It could be good news and breakthroughs as well but a chart shows what has happened not what will.