Short term high on 9th August.
The trade volume does not qualify for VCP, but the triangle pattern is forming nicely, watch closely for a breakout.
If NEM breakthrough and stabilise on above 63, it is likely to be an uptrend.
Technical indicators might be strong, but mobile food ordering companies operating in the US may face really hard time as many restaurants are failing to survive. EPS is not expected to get any better for Q4 2020.
Target price: 60
Cut loss: 52.8
Strategy, buy at 128 for a clear break out signal, target price 140, cut loss at 124.
Recommend for upward movement swing trade in long position.