Neat trade on NHF:ASX which I placed late this afteroon. Good Risk reward and a number of factors providing confluence for a move to circa $7.50
Entry: 6.46 Stop loss: 6.18 Went long in the counter after it broke out after consolidating for a while. Would have preferred a higher volume to go with the break out to lend conviction.
break of neckline for H&S top price action below all three moving averages initial target 3.91 final target 3.16
NIB $NHF $NHF is painting a bearish flag right now. We might see lower prices. I see correction to $5.25 or even $5.00 if $5.25 does not hold.
NHF / ASX - Daily Price is currently at median line and support and positive divergence is forming, if the support breaks might provides a short opportunity and we may see $5.65 is next stop.
Detail is in the chart. Encouraged by seeing Pardis post re ASX Stocks ... hat tip