About to breakout?No break out yet, but it's building up to it.
Since Jan 2016, it's also made a rough H&S pattern
Reversal to the upside?
NXR.GB trade ideas
Inverted Head & Shoulders With Divergence - Long NXR - LSEFundamentals of the company have consistent growth year to year with decent sized profit for a FTSE small cap stock. With a inverted head and shoulder pattern (in a overall down trend) marked by the blue squares indicating the left shoulder, head and possible right shoulder. We also have bullish divergence on the MacD and RSI along with an over-bought signal within the stochastic. One more thing to note is that the 200 EMA is supporting the current price level with the rest compressed at this point.
I'm looking to take profits at around the 210 p area if the trade goes my way, with a small stop due to the point of interest where I have opened the trade, Possibly may increase the stop if certain price action occurs.
LSE:NXR
