The reaction to a divergence that is about to bounce like this one could be strong and quick. The price diverged from the stochastic, bounced along the trend line and now the oscillator is oversold again. When this turns back up and moves, look for the price to blast off along with it.
Target: 16.79 - 17.66
This is one tricky counter with alot of swing here and there.
As for now, we have ended with Bullish Weekly Candle and it will likely to retest 17.40 level again.
This is where the real test begin. I am seeing that level will be very hard to break. If it is proven to be tough resistant, I will stands with BEAR
NUAN forming a fallen angel pattern, It is showing strength as it crossed above EMA lines & money flow went up to the positive side.
We think after a small correction it will go up & our first target is 15.47 but it has potential to go higher.
You can check our updated analysis on NUAN in the trading room/ Executive summery link...
Hello traders, well the reasoning for the trade is the break & intra-day retest of yesterdays support outlined by the blue horizontal trendline. The first target for the trade is the 16.65 level, 2nd target is the 16.35 level. All moving averages (20,50,100,200) have gone flat confirming this as an area of distribution / price range.
Cheers and GL =)
idea is possible swing long based on overall strong support and possible daily bull flag so I will look for long above 14.,15 with possible run to 15-15.50 area, as swing trade..more..........http://tinyurl.com/noc9hzj.........
Nuan at a very well defined support - bullish
below all the major moving averages(200, 50 and 20) - bearish
Macd - bearish
Bollinger bands right at lower level - bullish
Rsi almost oversold again. - bullish
Anyone with any other inputs , please make some suggestions.
This stock has bottomed on expanding volume in the low 13s after taking a huge drop post an earnings miss due to high expectations. Nuan continues to be in a long-term downtrend with a death cross occurring a while back that has yet to be negated. However, today with a vol-stop buy indicator, a rising RSI and MACD that looks like it has bottomed and starting to...