Hi, James, since I always like to analyze any stock...here goes a quickie on NTAIF......You have broken the upward trendline at 22.50....Any rally to the 22.50 area, would provide an opportunity,
to the nimble trader to short this stock.....+D1 remains at 18 and -D1 at 29 displaying a downward trend in the stock....ADX is a weak 20, which is telling me we are floating around here for a time.....My MACD Histogram displays a downward trend...Last 4 days, we had readings of
-0.425,-0.454,-0.476, and today -0.531....Notice the acceleration today on the downside, a pickup of .050 as opposed to 0.025.....I am looking for the stock to test the downward waters.....I peg it moving to the 18.70 level, and possibly testing support in the 18.12-18.37 area where you have 1.5 million shares of support....Then we should establish a Bollinger Band or Envelope channel trading range.....
Regards, Mark
P.S. One warning, it looks like we have a double top on this stock...
If any other technician wants to take a look at it, be my guest....
If it is a double top, you are in for a huge downside move, and 18.12-18.37 is not going to keep this puppy afloat....I have neckline then pegged at around 19.00.... |
