NVX @ 4 OCT 2021Text me if you have any questions/comments for me.
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NVX
- Previous analysis was done on 8 Sep - Suggested waiting for stock to retrace and successfully rebound
- In last night’s FB livestream, I said that price is overextended and suggested waiting for a retracement first
- Today, the stock retraced strongly to fall below the short-term average
- Technically, the short-term average hasn’t been tested since end-July and it doesn’t look like it’s a good support
- From the charts, a successful rebound look to be around 6.60 levels on the condition that the stock doesn’t retrace further
- Stocks that have retraced strongly usually will form a LH first before the uptrend can continue healthily
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for the next rebound wave
