Long | NLOKNASDAQ:NLOK
Possible Scenario: LONG
Evidence: Price Action
TP1~ 22
TP2 ~24
Call options, Strike 21$, 05/21/21
NLOK
NLOK - Long Setup Break of 22.23, Inverted Head and Shoulders , Stop signal 20.83. Target 25.33, target 2 26.93.
NLOKNLOK stock seems ready for bullish momentum.
there are divergences everywhere, as the price had 2 lower hight, but MACD and RSI (which is above 50) have both higher hight. plus the volume has been lowering in the past 2 weeks' bear trend, which DOES NOT confirm the downtrend.
the price itself is also just above the MA 200, and the MA 20 and MA 50 just made a golden cross, which could happen soon too between MA 20 and MA 200.
right now, we are on top of the triangle, which is NOT a good thing, because it could fall all the way back to $18, losing $3 (10%+).
BUT, if it DOES exist the triangle, we can see a higher high, at least $24.30, which is All-Time High as we can see here.
it also shows how the price has been moving between the MA 200 in the monthly chart, and the upper trendline (resistance)
can the price break the high resistance? idk, we will see.
is the price in the upper part of the MA 200- resistance trend? yes, so pay attention and DO NOT buy long unless some bullish sight shows up.
last thing: I suggest NOT to buy and hold, but to do weeks or months trade here since it is risky until it does not break over the top resistance.
$NLOK - Hammer on the 60min$NLOK looks like a broken stock at the moment, but it did have a huge sell-off and it seems to be forming a green hammer on the 60min chart. Will keep an eye on it.
NLOK - Norton Life lock - Bearish DivergenceWeekly:
On the weekly we see the prices go higher, while EFI and MACD Histogram diverge in relation to prices.
There is a ATR channel divergence as well, the high top goes well above +4 ATR, the top after that to +2,5 ATR and the current top to +2 ATR.
Previous pullbacks dip to somewhat below the EMA, around -0.5 ATR.
That would set the targets between 21 and 20.
Daily:
It shows a divergence here as well, with EFI and MACD-H. It also shows a divergence with Stochastic RSI, with a higher price top, Stochastic RSI turns on a lower level.
In my experience, this is a strong sign as well.
Entry would be:
23.39
Target 1: 21,05
Target 2: 20,05
SL: 24,68
R/R ratio: 1:2 for target 1
R/R ratio: 1:3 for target 2
The Stop loss is outside the 2 ATR channel, 1.5 ATR away from the current price.
Quick chance for 7% gains on NLOKNorton Life Lock has gapped down, in a generally upward trend. This gap could get filled quick!
