Trend This is where it starts. NN closed Thursday at $23.59, up more than 9% on the day. Line up the moving averages and they're stacked in the right order on the daily, and stacked the same way on the weekly. Two timeframes pointing the same direction is a lot stronger than one. The buyers own this thing right now. Pattern Look at the shape of it. NN just punched out to a brand-new high on that 9% candle. Breaking to new highs on a big green day, instead of stalling out, tells me there's still demand chasing it higher. Squeeze This is the one that got me to write it up. A squeeze is what you get when a chart goes quiet and the range tightens up, all that energy compressing with nowhere to go. The TTM squeeze on NN just turned on. Put a fresh squeeze on a stock already trending hard on two timeframes, and you've got a chart wound up tight and ready to pop. Trend, pattern, squeeze, all three lined up on the same name. That's the kind of chart I go hunting for. Now the honest part. NN is small and speculative, still early in its story, and it can swing hard both ways. Which is why I’m looking at this as a trade and not an investment. More so, the setups I trade tend to be short-term. I want to be in and out in a few days. Your Action Plan NN is on my watchlist, and I'm closely monitoring it. When one of these fires, the alert goes out live inDaily Profits Live, I run through my watchlist daily, and then I trade live in front of members. Not only do you get to see what I’m trading, but you also learn why I’m making the moves I am and can ask questions along the way. >> JOIN ME IN DAILY PROFITS LIVE << |
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