Have Faith, buy the DipsWhen I first started accumulating shares, this was a huge leap of faith; however, now the changing fundamentals are manifesting themselves as a changing of the the trend.
Tops and bottoms are very choppy with high volumes, big swings and much emotion.
When managing an investment, I look to the long term time frames when charting to determine the trend, and trade according to your own time horizon using shorter term time frames on your chart, whether you are a swing trader, long term investor, or adreneline junkie day trader. I am an investor in NXO with my primary holdings in my TFSA, and I trade a smaller amount in my active trading account.
The weekly chart is indicating a change of trend from the long term downtrend into an uptrend. Weekly RSI is finally above 50 the weekly MACD is crossing over above the signal line, and we finally have volume with the sales price above the 100 day moving average on the daily chart, which hasn't happened since May. While the 100 day moving average remains below the 200 day moving average, I beleive NXO will trade choppy while the bulls and bears fight over what the trend will ultimately reveal itself to be, so don't be too surprised about days like yesterday and today. This morning was a total fiasco as I witnessed the short/trading houses sell the stock in the 1.30s and 1.20s, then fight amongst themselves (ie. the same trading houses) to cover all the way back up to 1.38. This is just what they do, but it presented a blue light special at 1.19!!!
Now is the time to have faith, and take advantage of these dips to quietly accumulate (without going into margin for those of you with margin accounts). Margin is the evil of this devil's playground, but if you can hold onto what you buy I beleive it will pay off with this company.