RE:Forget about pivot points and concentrate on......Below is my post on August 5 stating that $4.25 - $4.50 is a huge resistance. Thanks Mickey for your follow up after that.
It is about time for a price action update. NHC touched $4.25 and immediately retreated ever since to $3.90 level. It started to come back up again yesterday. However, there is still a gap with the 50 DMA below that of 200 DMA. Technically we need time for the Golden Cross to happen meaning the former should be above the latter to confirm the breaking through of this resistance. So give it time to work it out and with the help of some good news that can speed up. When the time comes the share price shall go much higher but I will not go so far as $5.25 just yet.
Just a a head up, any pullback below $3.85 to me is a buying opportunity. There is momentum gathering in the stock leading to Q3. Good luck to all longs.
Ducksoup000001 wrote: It is Friday and a week has passed since my last post on price action. A lot has happened and so is the price trend. I mentioned that if $3.51 holds thus week momentum can carry sp further up. Yes, not only $3.51 holds but thrust through decidedly above the 200 ma at around $3.80. The huge resistance actually is between $4.25 and $4.50. It could still take a bit more time for the 50 ma to go back up crossing the 200ma. When it finally happens the long anticipated Multiple Expansion then begins. For now as it sits the 50 ma is still well below the 200 ma, meaning there is more work to do to make it happens.
We should watch very closely the first few days of next week if the momentum can bring us to within that range, test it and stay close for the rest of the week, or instead a minor profit taking will dampen the momentum temporarily. I said I will add more when $3.51 holds up and I bought more this week.
Good luck to all longs.