Long
NOG correction over, rise could start.
NOG correction over, rise could start. The financial situation of the company is stable. Its latest acquisition has already turned a profit. Their credit line has been successfully increased. Their debt payments should not be a problem in the coming years. The technical picture is similarly optimistic. It can be seen that the ATR axes that hold the rising wave sequence together are widening, indicating higher volatility. Alternatively, it can be seen that the size of the first correction of the wave sequence entering the ATR axes and the size of the current correction is exactly twice the size of the (orange) square. This means that the current correction is a fractal of the first correction. This may help in that if the correction phases are fractals, we can expect the rising phases to have fractal properties. So, the rising fractal that will arrive soon should have a size similar to twice the size of the rising fractal after the first correction. This means that the next rising fractal wave sequence target price is : 45.16 usd. This is the technical picture. This analysis is also supported by the mathematical analysis model of Simply Wall str. where currently the fair value of NOG is 43.25 usd. To sum up : I expect a further significant rise.
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