Setup: Bounce then Flag break
Catalyst (If any): Quad 3 (Gold/Energy in favour again)
Risk: $30
Reason for SL location: Below Flag
Profit targets: T1 = $210 below key Volume profile and 3 X R. T2 = $2.85 next major resistance
Comments: Price and Volume picking up after dropping to near covid lows! Not sure why it had sold down so hard but a government...
NWH driven by fib retracement. Proven gap between 2.13-2.18, bulls always push it up through this zone.
Expecting NWH to go to $2.25 in short term -> test support @ $2.20 -> go to $2.40
Just a very quick (ie 10 min limit) overview of some of what you can do to get started customising Trading Views charts. Ill probably need to do a few more as there is SO much you can do...
The daily chart of NRW Holdings Limited
Head and Shoulders bottom and ascending triangle.
The price broke the neckline and we got confirmation for the trend reversal.
RSI gives bullish signal.
The profit target $1.71 and $1.80
Probably the price will return to the neckline breakout $1.43 or throwback $1.35 and offer a second chance to buy.
Let see how we go.
$NWH may go again here after the false start back in September, which shows it needed more time to digest gains prior to stepping on the gas again. The strong volume day yesterday is also a pocket pivot volume, showing a high breakout potential.
A nice pennant forming here on $NWH. Low volume red bars compared to green bars is very constructive as it shows a lack of supply. Watch for volume if/when it breaks $1.20.
The weekly chart is showing that the long-term trend is now in Stage 2 (Markup phase) so can continue to watch for a long-term long signal.
