NILI.V Possible Trend Reversal & Entry - First Analysis
NILI.V (Surge Battery Metals)
Candlesticks:
This past week NILI.V closed Thursday with a dragonfly doji candle, followed by a bullish engulfing on friday. The last time a dragonfly doji appeared was on September 9th, which marked a trend reversal that resulted in a 90% in price over 45 days.
Technical Indicators:
MACD on the daily is about to crossover indicating a possible shift in momentum from bearish to bullish.
Possible Entry:
looking for a confirmation on the trend reversal on Monday with a candle closing above the downward channel that Nili has been trading in over the past couple weeks. If that happens I will take a long position and be looking for profit taking opportunities at .40, .45, and .50 cent price ranges.
I am new to trading and this is my first analysis. Let me know what you think and if I got anything wrong here, any feedback is appreciated!
Candlesticks:
This past week NILI.V closed Thursday with a dragonfly doji candle, followed by a bullish engulfing on friday. The last time a dragonfly doji appeared was on September 9th, which marked a trend reversal that resulted in a 90% in price over 45 days.
Technical Indicators:
MACD on the daily is about to crossover indicating a possible shift in momentum from bearish to bullish.
Possible Entry:
looking for a confirmation on the trend reversal on Monday with a candle closing above the downward channel that Nili has been trading in over the past couple weeks. If that happens I will take a long position and be looking for profit taking opportunities at .40, .45, and .50 cent price ranges.
I am new to trading and this is my first analysis. Let me know what you think and if I got anything wrong here, any feedback is appreciated!
Note
Forgot to mention that NILI has two analyst 1-year price targets of $1.50 and $3.90 for an average price target of $2.70. Note
Weekly chart also shows price bouncing of the 200 SMA. Last candle close on the weekly was also a hammer candle, which also indicates a trend reversal.Trade active
Entered trade @ $.375
Price targets are $.60 and $.77
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.