I usually don't post ideas with intraday charts but I have found that after a big move up the 55 min and 13 min work well to establish key levels at new levels.
After consolidating at the $6.25 range for several days the price broke out of the range with volume and managed to close above the .38 fibonacci level.
Today (10/26) NLST gapped up nicely to open at $8 and by mid day filled the gap down to $7.5 before moving up the remainder of the session.
The gap fill to the .38 fib level and the imminent break out of the pennant on the 55 min chart are both very bullish.
I am long NLST but I think this is the start of a multi day rally back to the 52 week high level.
Damages awarded and possible settlement news will be the big fact here but on a technical level it looks like a runner.
After consolidating at the $6.25 range for several days the price broke out of the range with volume and managed to close above the .38 fibonacci level.
Today (10/26) NLST gapped up nicely to open at $8 and by mid day filled the gap down to $7.5 before moving up the remainder of the session.
The gap fill to the .38 fib level and the imminent break out of the pennant on the 55 min chart are both very bullish.
I am long NLST but I think this is the start of a multi day rally back to the 52 week high level.
Damages awarded and possible settlement news will be the big fact here but on a technical level it looks like a runner.
