NEW HOPE CORPORATION LIMITED
Short
Updated

Bearish potential detected for NHC

49
Entry conditions:
(i) lower share price for NHC along with swing of DMI indicator towards bearishness and RSI downwards, and
(ii) observing market reaction around the share price of $3.57 (open of 11th April).

Stop loss for the trade would be:
(i) above the high of the recent swing high once the trade is activated (currently $3.75 from the high of 19th May).
Note
UPDATE (week ending 30-May): No action thus far - entry conditions not met yet - watch and observe...
Note
UPDATE (week ending 06-Jun): No action thus far yet again - entry conditions not met yet - watch and observe...
Order cancelled
UPDATE (week ending 13-Jun): No action thus far yet again - entry conditions not met yet - abandon the thesis for this trade...

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