#NMC is showing a good setup, 0.168 rectracement#NMC Health is the largest health-care provider in the United Arab Emirates and the second-largest provider of in-vitro fertilization in the world.
#NMC is showing a good setup, 0.168 rectracement. we expect a nice-bounce to the shown levels on chart.
Nmchealth
NMC Health Breaks Out AgainLast post: April 24th. See chart .
Review: Price was holding at the support level highlighted.
Update: Price bounced off the support level and is making new all-time highs.
Conclusion: We are waiting for breakouts to compound on the trades we already have running and in profit.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
NMC Health Breaks Out Again!NMC Health continues to grow as price has broken through yet another resistance level.
When we trade stocks we want price to consistently head up and remain above the 50 & 200 simple moving averages. NMC Health is a prime
example of what we are looking for and has used the 50 sma as support along the way.
Despite this stock having deep pullbacks and despite the periods of consolidation, price eventually does break the resistance levels and
has been trending up ever since they started floating on the stock market in 2012.
The behaviour of a stock is an important detail to take in and normally we prefer to trade stocks with shallow pullbacks and little to no
periods of consolidation. Although this stock does not fit the criteria of what we look for, its consistency is what makes it stand out.
The deep pullbacks also offer us opportunities to enter trades on the pullbacks allowing us to compound when other traders are feeling fearful
and jumping out of the trade, resulting in us maximizing our profit potential.
One other thing to bear in mind when you trade stocks with deep pullbacks is that you will have to be patient as you wait for price
to return back to profit. As I mentioned before, traders run scared when price pulls back but as long as price does not break
through strong support levels then there is nothing to worry about.
Price for this stock is now moving up nicely again but there is a psychological resistance area above in the form of the £40.00 round number.
Let us see how price reacts to this zone.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
