Nokomis,
I was looking at a 60 day candlestick. Despite the sickly 365 day chart, it will be good if NCT breaks 14ish as sign of a near-term rebound. After that, it should test or beat 17ish. I'm not a perfect chartist, though I have had excellent results of late looking for stocks recovering from a short-term bottom, such as EFAX which was looking good back at 14, and others such as APCC, and STAF.
I'm still trying to refine my "system". Other immediate plays which look good to me are BEAM, NTLI, CNET, EBAY, NMGC (could be a TokyoJoe anomaly), MGCX, CLTR. I look for increasing momentum, a specific volume pattern and "money flow", which has turned out to be an interesting variable (thanks SAMS).
What impressed me about this chart is that a technical uptrend appears to be imminent, which is why I'm willing to wait for one or two more positive moves.
Happy trading,
Scrumpy |
