Grindwell norton strong reversal stockGrindwell Norton has broken the downward trend line. Keep it on your radar!!!
Norton
NLOK - Norton Life lock - Bearish DivergenceWeekly:
On the weekly we see the prices go higher, while EFI and MACD Histogram diverge in relation to prices.
There is a ATR channel divergence as well, the high top goes well above +4 ATR, the top after that to +2,5 ATR and the current top to +2 ATR.
Previous pullbacks dip to somewhat below the EMA, around -0.5 ATR.
That would set the targets between 21 and 20.
Daily:
It shows a divergence here as well, with EFI and MACD-H. It also shows a divergence with Stochastic RSI, with a higher price top, Stochastic RSI turns on a lower level.
In my experience, this is a strong sign as well.
Entry would be:
23.39
Target 1: 21,05
Target 2: 20,05
SL: 24,68
R/R ratio: 1:2 for target 1
R/R ratio: 1:3 for target 2
The Stop loss is outside the 2 ATR channel, 1.5 ATR away from the current price.
NLOK - NORTONLIFELOCK "Potential increase in Volatility"07/10/2020 $NLOK
Sentiment Algo uses advanced big data analytics. This stock has potential for a significant increase in volatility.
This is not a buy/sell signal
Bullish Charts - Cyber Security PlayDaily & Weekly charts look good. Daily chart looks great.
Volume turned Bullish
PMO turned Bullish
MACD is turning Bullish
Stochastic is Bullish
Security Sector is Bullish
Long!
DISCLAIMER
The Content herein is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
NLOK Volume analysisBoth OBV and CVI can be seen to be in a downtrend / declining. This is also supported by Volume RSI which is extremely low, price may attempt to climb back into trendline. A bump and run can also be observed. Overall based on volume factors, looks bearish.
