NCC LOOKS BULLISH ON WEEKLY CHARTSNCC forming cup and handle pattern with higher probability of BO at 92 levels. Also it is trading above 20MA and MACD crossover probability is also high with confirmation in BO. RSI has breached resistance level of 60.
First Target- 116
Second Target- 136.70
Third Target- 168.80
NCC trade ideas
NCC - AnalysisWe can witness a symmetrical triangle in the Day chart of the NCC Stock. Current Market Price is at 90.45. The share has the potential to reach 100, which is roughly 10 points above the current price which will be around 11% upside.
If it breaks that level it will have the the potential to reach 115. There is a surge in the volume of this stock on Friday (11 June'21).
This is for educational purpose only
NCC - Up move resumes The NCC stock had previously peaked at around 100 levels in early February 2021. Since then, the stock was in a clear sideways/downward trend and had taken support multiple times at the 200 week SMA (currently near 74.5).
This week, NCC broke out of its range and closed at 88 levels. It also closed above the 2 recent resistance trendlines as shown in the chart (blue and red resistance TL). The stock is now in a clear up move and should head higher
Resistance/Target: The Feb 2021 high at 100 is the first clear resistance/target for this long trade. Once crossed, 2018 price levels of 110-130 will come into play. Any weekly close above 130 will lead to a big upside going forward.
Stop Loss: Maintain a WCB stop loss below 83