NAKD! This penny stock loves this pattern 🚀
NAKD is forming a fractal pattern at the moment, which is technically a bullish pennant. It has also found an extremely tight range at the 50 MA while doing so. There are also all kinds of bullish crossovers forming with the moving averages with hidden bullish divergence between the price, RSI, and MACD. The OBV (on balance volume) is also showcasing a heck of a lot of accumulation and no sign of diminishing demand for the shares.
Fundamentally this stock is terrible with declining YOY revenues, worsening margins, and not a snowball's chance in h3ll of producing a net income. But it doesn't mean this stock can't achieve price momentum in the short term to take it to $2 and above.
So please, I'm not saying that this is a stock to hold. This is purely a swing trade and I would set an aggressive stop limit at around 0.79.
Fundamentally this stock is terrible with declining YOY revenues, worsening margins, and not a snowball's chance in h3ll of producing a net income. But it doesn't mean this stock can't achieve price momentum in the short term to take it to $2 and above.
So please, I'm not saying that this is a stock to hold. This is purely a swing trade and I would set an aggressive stop limit at around 0.79.
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