After BMFBOVESPA:NUBR33 finally found its bottom at 8.32 points it formed a double bottom pattern last week, then a spike surged pumping the price over 10% breaking an important resistance zone before the market closed for the Christmas holiday.
What we can expect for its reopening tomorrow is the price continuing its run aiming for the second level of the fib retraction at around 9.69 points.
The price action around this area will determine whether the stock keep its run for a higher target or settle in a new resistance zone.
Relative strength and price momentum may indicate a consolidation period confirming the price settlement after the next target.
Cheers.
What we can expect for its reopening tomorrow is the price continuing its run aiming for the second level of the fib retraction at around 9.69 points.
The price action around this area will determine whether the stock keep its run for a higher target or settle in a new resistance zone.
Relative strength and price momentum may indicate a consolidation period confirming the price settlement after the next target.
Cheers.
Trade closed: target reached:
As per today, the stock triggered its target for stop gain.
It took a little bit longer than I expected but the movement projection was going to the right place anyway.
Keep tuned for more reviews.
It took a little bit longer than I expected but the movement projection was going to the right place anyway.
Keep tuned for more reviews.