$NOA is leading the international small capsNorth American Construction Group provides mining, heavy construction services to customers in the resource development, industrial construction in the US, Canada and Australia.
I tried trading this stock back in 2021 and got stopped out.
If it wasn't for that I would have had dead money for more than a year! Thank God for stops.
Now, NYSE:NOA is ready to make all time highs and it could be a good trade again. Already broke out relative to its peers ( AMEX:GWX ).
Other stocks in its industry/sector like NYSE:GVA , NYSE:MTZ , NYSE:EME & NYSE:OII are also in strong uptrends.
The Invesco Dynamic Building & Construction ETF AMEX:PKB is also making new highs. I'm looking for stocks in this sectors.
Not everything is tech stocks!
NOA trade ideas
NOA - Gaussian ChannelWithin the falling wedge earlier in prices evolution the Gaussian channel can be seen to have a sort of downward oscillating pattern
Price has reversed since then from its downward falling wedge , as per the bullish nature of Falling Wedges
A stronger uptrend has emerged which allows for continuation up for price on this Weekly timeframe as seen by the bars pattern I have placed
Perhaps the oscillating pattern on the Gaussian Channel will emerge again as price continues upwards along the strong trend
NOA Symmetrical Triangle BreakoutNOA looks to be breaking out on the Weekly.
Thesis:
- The RSI ad OBV is supporting the price action trend of higher lows.
- The TTM is firing off.
- In addition, the MACD on the daily is starting to cross the signal line.
Suggestion would be to enter on the weekly close above the 200 Day MA, I would use an ATR stop of *2 ($2.44)
First target $18
Second target - All time highs ($23-24)
NOA ABCA 2.4M
B 1.7M
C 1.3M
31thDec 414k...
Elliott Wave Theory, or ABC wave theory, is a term for three-wave counter trend price movement. Here, wave A is the first price wave that is against the trend of the entire market. B wave is a corrective wave for wave A. Wave C shows the final price move to complete the counter trend price move.
Upside in NOA.TO (Canadian)Triggered a few days ago, and also a couple times over the last several weeks.
Long-term uptrend and transitioning back to upside after pullback.
Low volume lately. Which is why I waited to post this one until it was a ways away from my entry point. But for those who know the strategy, there has been lots of opportunities to get in.
A conservative and aggressive target are provided. Can also use trailing stop loss.