NAK trends higher within pitchforkNAK broke the long term down trend. Now trends higher within pitchfork range. Awaiting JV news.
NDM trade ideas
NAK Breakout Long IdeaNAK is quietly breaking above the 75sma on the hourly chart. Poised to move higher. Looks to be leaving a bull flag behind. AB=CD could see a nice return up to 1.77.
NAK Needs Volume to Confirm Trend. Siting at Demand ZoneNAK has been trying to break out here for the last week but selling pressure after the initial pop to $1.60's quickly brought price back down. Currently price is at both the demand zone and basis MA on the Bollinger Band. Looks to be consolidating.
Holding SupportThe Hourly 100 SMA is holding support for the Bullish Marubozu candle formed on Friday. #standtuned
NAK WedgedI wouldn't go long or short until it breaks either way. Bears have the advantage at the moment.
There may be a mini-inverse head and shoulder, but the volume doesn't coincide with that particular pattern. There are probably better set-ups out there instead of forcing trades.
Congrats to those that bought at channel bottom though (~1.21). I couldn't stay in the scalp to get the whole 25 cent move (only took out 13 cents). The down-trend is still in tact and it honestly looks very pathetic.
Reversion to 50 SMA on HourlyIt seems that a test of support was in order!
The support at ~$1.35 from late June is being tested again. If NAK bounces off of this level, an uptrend may have begun - otherwise, the downtrend continues.
NAK Several Indicators Show Signs Of LifeAverage: $1.64
Price Target: N/A
I have been accumulating since $1.80 instead of trying to time a reversal. With the EPA news released yesterday, this seems to be primed for a break of the downtrend.
$NAK is ready for a move on the upside.$NAK is ready for a move on the upside. It touched key levels of support and bounced back up after hitting the trend line.
Entry point: 1.48
Exit point: 1.97, if that key level of resistance is broken, hold until the next level of resistance is touched.
Stop loss: If the price goes below 1.23, a trend reversal will be confirmed. Below that point, sell your position.
Details to consider:
- This stock is prone to manipulation and massive dumping, be ready to close your position in case the situation turns bearish.
- It is wise to buy more shares once a breakout has been confirmed.
- Do not average down on your position if you are at a loss. Cut your losses short and have a clear stop loss exit point.
- The trend line has been consistent over the past months, so holding this stock for longer terms is possible.
- Have well defined entry and exit points if you are going to day trade this stock.
- It is a mining stock, meaning the exploration/drilling results will heavily influence future price action. Watch press releases very closely.
Long NAKThere is that tag of the 200ma and a little bounce off of it.
1h chart is well oversold so if nothing else I should get a small bounce that lets me raise stops to breakeven or close to it.
It is still very risky, but that's the nature of the game.
Buying a position here at 1.52, hard stop below the 200ma, ~1.45.
Interesting symmetry thats forming.Think large steep run is unlikely without some rumors or news coming out. Guess short squeeze could do it.
NAK Correction Back to SupportNAK Took a nice beating today back down to support where accumulation is currently occurring. Scaled in today in $1.60s.
Almost long NAK againThe last week or two, I had bought NAK at 1.625, 1.73 and 2.02, all to sell at 2.215.
The trades are marked by the arrows on the chart. It is a little too fast paced for my liking, however I made a lot of money so I'm not complaining. In this trading climate I have been extra cautious with my trades and so far I've made some decent change.
It's close to a buy again. The 1h and 2h RSI are almost oversold. It is almost at the lower trendline and may also tag the 200ma. These conditions have previously identified bottoms in the current trend. If the current trend is intact , the next trade should be profitable.
I'm waiting for the 2h stoch to start rising out of oversold, and the 2h RSI to reach deeper into oversold. Curiously, the current price is also where that "flash crash" on 5/10 projected. Based on that alone it may be worthwhile to take a baby position here.
I will look to buy in the 1.55 area, which is where the 200ma is.
