John S., TREND IS YOUR BEST FRIENDS. NAI is one of the great SVB, twin of DML [little younger though!], It has had great movement since Dec. from Dec. 40 cents to recent hi of $1.83. NAI had a breakout ascending triangular 2-month-in-the making shape in late January, and re-test that breakout neckline at $1.38. With increased volume NAI moved higher again to that $1.83. [but it did not break that, it has to closed prices above that $1.83 and with significant large volume.] As my explanations in the market places, SVB is in retracement mode, stocks's prices dripped down a bit with small volume. I did not watch NAI closely, I could not try to give you 1/3 retracement and volume figures. But surprisedly, NAI has exactly the same chart patterns as that MGD. [please see MGD chart for comparisions]
Once DML starts its up trend at least after 3 days's retracement, and minimum of 1/3 retraced of what it gained, DML will test that $2.85, with larger volume, and that $4.30 when drill rigs are on sites, and $10.85, as drill results prove great even $28.00 if results are even greater etc...
If that is the case, watch out NAI and MGD [also CWA] with a big BREAKOUT AND LARGE VOLUME AND CONFIRM ITS UP TREND AND PRICES WILL CONTINUE MOVE HIGHER AND HIT NEW HI. THAT IS A TREND IS A TREND IS A TREND AND TREND IS YOUR BEST FRIENDS.
Again, this is just my thoughts, not any methods or system of forecast in the stock markets is infallible. |
