NEC long after breaking out of previous high with high volumeEntry: 2.93
Stop loss: 2.72
Stock broke out of its previous high with high volume today with the 3 SMAs trending orderly.
NEC trade ideas
NEC - Long term breakoutLooking good, waiting for a successful retest of the breakout area before entering a long
NEC | 4HR impulse to the downside probablehello traders
looking to trade the impulse to the downside. waiting for one more up on the 15mins TF before getting in the sell and holding to the break of the b wave low of the runnning/expanding flat. lets see how this plays out
Buy NECThe ASX 200 should be opening higher this morning due to oversee market finishing the week on a high, that's why i'm looking at NEC due to its sector of consumer cyclical. XDJ, might have a bounce of the 13 EMA today to the upside. That leads us to NEC forming higher highs, its on the 4 wave of the Elliot theory and its formed a inverted Head and Shoulders as well. The 13 and the 50 EMA are both rising to the up side with the MACD as well.
NINE ENT Australia, progressing LONG in TRIANGLE FormationIt seems that NINE Entertainment Australia is progressing LONG inside an Ascending Triangle, as I had forecast back in January, See here:
All EMAs have now crossed, including the MAYO and BLUEBERRY EMAs which confirms continued upward movement together with TDI also showing continued upward movement. Wave count remains the same, however although this is a long term position, when price action reaches the target area, we can expect a Reversal to start a bearish run, which in my opinion is a dangerous position for NINE Entertainment if they continue with the #FakeNews rhetoric and contempt for the Australian population, especially in the current political climate and leftist insanity driving politically leftist biased staff and programming. If this proves to be correct, we can expect a bearish Impulse on the Intermediate period which will prove disasterous for NINE ENT, driving the price well under $1 which occurred back in October 2016, in which case I will SHORT this stock until the full Impulse wave to at least 80 cents, unless the Impulse wave fails and NINE ENT changes management or direction. In my opinion, NINE ENT management needs to change to a more neutral and central whilst less biased approach to news and programming.
Currently on this Bullish trend, I forecast this stock to reach the region between $2.30 and $2.50 and will be holding this stock until the target area.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
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NINE ENTERTAINMENT (NEC) Could go either way ?It seems that there are 2x possibilities right at this time, could go either way, but it doesn't look good for the network. Why?
TECHNICAL:
Possibility #1:
Stock has hit the bottom of an ascending triangle and on it's way up to complete the final stages of the triangle. Reasons for this analysis is based on possible Elliott wave #2 count plus channel/structure showing a possible bullish move for around 1 year on the monthly and weekly chart. Weekly RSI suggests a 'Possible' move upwards, however could also move downwards as the previous year 2016 did not hit the oversold area, thus suggesting more moves downwards. Stochasitc suggests a downward move as it already displays a severe overbought position.
OR
Possibility #2:
Stock is in progress of completing a flat correction, based on Elliott wave count #2 plus possible structure on the weekly chart. However, BOTH RSI and Stochastic show a very high probability of a down move which in my opinion, is the most probable. If this is the case, stock will plunge very close to the bottom of the market with a potential wipeout of stakeholders, if massive selling/shorting of this stock occurs. It is in a very dangerous area.
FUNDAMENTAL:
The information that I have indicates quite a massive shift from wireless based technology news delivery (RF) to Internet based delivery where more up to date news is readily available and less biased. There is a very strong feeling amongst the population, that the established mainstream media are more interested in politically biased propaganda rather than reporting important political events. This idea is also backed up by the recent events in the USA where until Donald Trump's Election, mainstream media have been seen to be politically biased towards Hillary Clinton and then rejected by the vast majority of the American public, which is echoed in the same fashion by the Australian public, for the US elections as well as the Australian political scene. It is also apparent that most mainstream media organisations are on a bearish trend, mostly due to social media, Internet applications and general public feeling, mainstream media becomes more irrelevant as time passes.
I won't make any moves on this stock at the moment until I get more visibility on the direction, after this current fibo has completed to the first box area, however if I get a bearish signal, I'll be shorting this with a large lot size for maximum profit.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
Please do not trade this chart if you do not have your own strategy. Trade only with your own strategy.
Some very wise words: Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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