NB Ventures: Price Action with powerful Indicators for strong returnsMay 24, 2022
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In the current market environment, there are stocks specific actions that can be witnessed. We can clearly see below the chart how bullish momentum can be captured.
Combination of trend indicator and price pattern is an amazing technique applied on a chart to understand why there was a rise and is this rise sustainable.
Look at the below chart of NBVENTURE published in the Equity research report on 20th May morning before markets opened – "The Financial Waves short term update"
NBVENTURES Daily chart as on 20th May 2022 (Anticipated):
NBVENTURES Daily chart as on 24th May 2022 (Happened):
Waves analysis as we published on 20th May 2022:
On the daily chart, in the previous session prices formed a bullish candle. Price has closed above 178 levels which confirms the breakout of rounding bottom pattern. Price has recently bounced from the Ichimoku cloud which can act as near-term support zone.
In short, the trend for this stock is positive. Use dips towards 172-174 as buying opportunity for a move towards 190-192 levels as long as 166 holds on the downside.
Next day, the stock had a gap up opening and continued to move higher towards 208 levels. moreover, within 2 trading session, the stock achieved its all-time high of 210 giving more than 16% return within short span of time. This clearly shows that by identifying certain patterns and using simple tools like Ichimoku cloud one can still ride the trend in Cash stocks.
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