Short
Wait for Ultimate buying opportunity at $20.50 range
Looks like it is still in pressure, making lower lows and making lower highs, continuing it's down trend.
Next support is around $25.08 range, if breaks then $21.50 is pretty storng support, presenting good buying opportunity.
If this scenario realizes then followign should be Take Profits:
1. TP-1: $25.00 ~ (20% profit approximately)
2. TP-2: $29.90 ~ (19% profit approximately)
3. TP-3: $31.70 ~ (5% profit approximately)
Please note these are my own notes for future reference, by no means trading advise to anyone. Please do your own research before entering into any trade.
Next support is around $25.08 range, if breaks then $21.50 is pretty storng support, presenting good buying opportunity.
If this scenario realizes then followign should be Take Profits:
1. TP-1: $25.00 ~ (20% profit approximately)
2. TP-2: $29.90 ~ (19% profit approximately)
3. TP-3: $31.70 ~ (5% profit approximately)
Please note these are my own notes for future reference, by no means trading advise to anyone. Please do your own research before entering into any trade.
Note
Price closed bearish.Note
Daily Candle closed bearish and still within the Box.Note
Price is consolidating.Note
Note
NCM is consolidating in the Box since the 20th of November, since almost two months now, but my stance and analysis on this is the same. We have not seen a break lower yet, and we have not even seen a break above the consolidation box with High Volume. If price breaks upside and closes above $28.30 level coupled with High Volume, then I will take a buy position. The second scenario is to wait for price to head lower to $21.50 level, where we may get a good Buying Opportunity.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.