Nib is an ETN which invests in Cocoa futures. It has broken through a downward trendline. It appears to be setting up for an inverse head and shoulders.
Buy around downward blue support line. Stop loss just under the support line.
Targets are at the neckline of the Inverse H&S and also at the previous high where the green arrow shows.
This looks like a nice divergence, I am holding 400 NIB @ 26.02 and might add on the trigger of the buy alert. I consider this a Higher risk entry as it is trading at its lows and I have traded this once before. But the Divergence is a powerful indicator. Very Similar to JO
Great setup for a longer term position stop under previous low the key here in My opinion is the volume spike a few days ago combined with a divergence. We are in $JO which is almost identical to this chart