NFG - Short Term Positive OutlookNFG has bounced from a strong support level. There is bullish RSI divergence. Bearish Squeeze Momentum is nearly over. NFG may fall a couple of days before rising again and going up to 60 in its next uptrend cycle.
NFG trade ideas
$NFG gas industry leader near breakoutNational Fuel Gas Co l is a diversified energy organization headquartered in Western New York that operates an integrated collection of natural gas and oil assets across four business segments: exploration and production, pipeline and storage, gathering, and utility.
The stock is in a confirmed uptrend and has formed a cup & handle with a buy point at $73.
Investors Business Daily gives a Relative Strength rating of 92 and Ranks the stock first in its industry.
AMEX:UNG had a really bad day yesterday which could affect NYSE:NFG and the rest of the industry.
I'll let the price guide me. If it breakouts with heavy volume I'll buy. If not, then I won't buy. Simple.
NFG a good buy?NYSE:NFG
MACD cross over
RSI above 60
good volume compared to last few days
potentially crossing Fib band
NFG to cool off on NATO news?Based on historical movement, the peak could occur anywhere in the larger red box. The final targets are in the green boxes. The pending bottom should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated SELL on March 25, 2022 with a closing price of 68.04.
If this instance is successful, that means the stock should decline to at least 67.47 which is the top of the larger green box. Three-quarters of all successful signals have the stock decline 2.05% from the signal closing price. This percentage is the top of the smaller green box. Half of all successful signals have the stock decline 3.298% which is the end point of the black dotted arrow. One-quarter of all successful signals have the stock decline 4.552% from the signal closing price which is the bottom of the smaller green box. The maximum decline on record would see a move to the bottom of the larger green box. These are the same concepts for the levels in the red boxes as well.
The ends/vertical sides of the boxes are determined in a similar fashion. The trough of the decline can occur as soon as the next trading bar after signal close, while the max decline occurs within the limit of study at 50 trading bars after the signal. A 0.4% decline must occur over the next 50 trading bars in order to be considered a success. Three-quarters of successful movement occur after at least 15 trading bars; half occur within 26 trading bars, and one-quarter require at least 44 trading bars.
The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement.
As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play).
break throughThe company's shares have been in an uptrend for several days, which will continue to break through the resistance level.
NFG - Massive topping formationThis is one of the most bearish charts I've seen in a while. If this chart won't see a bear trend in the year coming, it will be a huge surprise. Working up from the monthly to the daily, this looks bearish. Monthly here
A look at the weekly, and it looks even more bearish. Double bearish divergence on the MACD lines, with 3 consecutive false breakouts over the 2011 top, with a H&S pattern, with a pattern on the Weis Wave, all happening at the all time high. It can't get much bearish than that. This stock will see a huge bear trend in the coming months/years. It's not really my cup of tee, but I wanted to share.
Note : The pattern on the Weis Wave might be there because of the earnings call.
