Long

Nova Royalty Corp Accumulation

Updated

I will be accumulating Nova Royalty Corp👑 shares in the BUY ZONE 2.1-1.8 USD, as I think this zone will provide strong support. My 1st target will be 4.8, 2nd 9.8.

*ENTRY: Buy in the 2.1-1.8 USD zone
*SL: no SL, it's rather investment than trade
*TARGETS: 4.8, 9.8

Like👍 & Enjoy📺!

Trade active

Bought @ 2.1 first position. Will add more if price drops below 2.0.

Note

Major downtrendline broken, but I don't think we are out of the woods yet, as I still see possibility to test the 2.22 area or even the lower edge of the buy zone. On the other hand, there is Inverted Head and Shoulders in the making with target near my original TP1, which is nice confluence. To sum it up, if the price drops to 2.22 or lower, I will be loading more.

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Price got rejected by the neckline, let's see what's next.

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Inverted Head and Shoulders invalidated. Price dropped to the 0.786 Fib and I just bought more shares @ 2.22.

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So the additional buy was spot on, the price bounced up shortly after and then consolidated for almost two months. Now price started to move up, but will need to break the white downtrendline for further gains.

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My thoughts: Price is consolidating before the leg up which will lead to break of the white downtrendline.

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Dipped once again into the BUY ZONE and bounced. White downtrendline broken. Good...

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Price went down to backtest the previously broken white downtrendline - now hugging it and also sitting @ 0.764 fib. Should be price supportive. Cleaned the chart a bit.

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Pride rode the white downtrendline and created falling wedge which has been broken up. Now we should be good to go up.

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Chart revised. Price broke the buy zone 2.1-1.8 support and dropped as low as 1.05. Forming huge falling wedge. Break up would be really important for the bulls. New (higher) targets 5.8 and 10.9.

bizmark

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by bizmark

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