Hey guys!
This setup looks too good to be true. I just bought some spot shares because this weekly bullish divergence is huge and when it does play out, this 7% dividend stock will rally and be a great hold for long term investors.
This RSI divergence shows momentum trying to change, long term holders buying from short sellers and panic sellers. Also we can clearly see 5 waves down from the top, totaling a 69%ish drop from ATH. In my opinion, there is a high likelihood that 16.16$ CAD is the bottom for this stock.
This setup looks too good to be true. I just bought some spot shares because this weekly bullish divergence is huge and when it does play out, this 7% dividend stock will rally and be a great hold for long term investors.
This RSI divergence shows momentum trying to change, long term holders buying from short sellers and panic sellers. Also we can clearly see 5 waves down from the top, totaling a 69%ish drop from ATH. In my opinion, there is a high likelihood that 16.16$ CAD is the bottom for this stock.
Dagangan aktif
Currently at resistance, could take partial profit or just let it ride and move the stop loss up.Nota
To add some context, here is the Logarithmic zoomed in on the daily. It seems to be forming a round bottom. We will have to retest that theory later on, if this arc is reached again by price action. But for now the major fib level has been reclaimed, and backtested. Effectively creating a ''spring'' in EW under 17,72$, which is also the 0.5 fibonacci level from ATL to ATH in Log scale. Again, there is so much confluence in this area.
As seen on this chart, it is also previous resistance (in 2006), that has now turned to support.
And to add even more confluence, we have this very clean Log parallel channel, tagging the lows 3 times (generational buying opportunities).
The fact that nobody is watching this stock also gives me a lot of confidence, as a contrarian investor, not just a trader.
Good luck with your trades guys. Look up my idea on Barrick Gold for a similar bottoming setup which could provide long term opportunity as well as short term upside.
Nota
Also note, from a macro perspective. There will be rate cuts later this year. Maybe more than anticipated given the current situation with the economy. Green energy companies like Northland Power are constantly investing in new projects and developments, they require a lot of capital. So of course, companies like NPI can benefit greatly from rate cuts, in fact, more than most types of businesses.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.