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TheGladiator

8,601 Posts.

102

15/01/16

00:26

Post #: 16799892
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Originally posted by Jako64 ↑

NWZ Update-
Once again no trigger for any momentum trade.
(and any accumulation trades would have probably been stopped out last Monday)

NWZ gapped below the trendline and the prior recent trading, on an increase in volume as price broke down on Thursday.
Gapping down like that traps current holders into a losing (weak) position, where they are vulnerable to selling out for a loss.
It appears that price will form another leg down now (leaving the previous lines above as resistance), with the most likely levels 2.8cps and 3cps.
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View attachment 132636

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It looked promising when it was in the 4s Jako. Perhaps it would have been a different story if the world wasn't ending.
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