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CoryMitchell-CMT
Dec 4, 2017 7:24 PM

NXE.TO Breaks Out This Morning. Another Wave Up. Long

NEXGEN ENERGY LTDTSX

Description

Stock broke out of a consolidation this morning triggering the long trade.
Long-term uptrend but stock recently sustained a deep pullback. The recent price action indicates that pullback could be over and another wave to the upside is starting. Conservative target is below early 2017 peak. More aggressive target is above that peak. Can also use ATR Stops--wait for a daily close below the indicator line, then place the stop loss just below the low of that day.
Comments
Nabes
are you saying to buy now or wait till it drops to that 2.9 level?
CoryMitchell-CMT
@Nabes, The buy was the consolidation breakout when the price moved above 3.20. So that was the buy point. Stop loss goes below 2.90.
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