Nortel (NT) Still Going....
Yesterday I posted that NT is resuming its weekly breakout, well today we had another nice move in that stock up over 3%. Looking at the weekly chart I see the next resistance level at 34, so that would be a good first objective for this trade.
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4 comments:
I only follow technology and China stocks. Is all the bad news out on Dell and ready to move? Stop at 23.40. Any opinions?
http://stockcharts.com/h-sc/ui?s=DELL&p=D&yr=0&mn=6&dy=0&id=p28009186120&a=89796672
NVEC is real speculative with a large short ratio, but looks like the consolidation is occuring. Stop at 21.90.
http://stockcharts.com/h-sc/ui?s=NVEC&p=D&yr=0&mn=7&dy=0&id=p55176980775&a=84000957
Nice call on Nortel. I've always had a hard time buying breakouts, I feel more comfortable buying consolidation or support areas.
Hi Trs,
DELL and NVEC look oversold while the market as a whole is overbought. I personally wouldn't buy these two stocks but that's just me. You might have a different trading style. You have to do what feels right for you.
I've been sitting in NT for about a month, it's finally starting to move now... Thanks
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