Placement of an uptrend line for NXT is problematic. The most technically acceptable uptrend was broken by price for two consecutive weeks which is a strong sell signal. Price fell close to the lower boundary of the stock’s price channel and then moved up. Assuming it moves up with some volume to close above resistance at $14 then there is a price target of $16.72 – a potential gain of 36%.

NXT 18Dec20

13 November 2020

NXT has been rising strongly for 12 months and while it could be getting near the end of that run it remains a good long term trade potential using trendline trading techniques. Trending well, in an uptrend above an uptrend line  making higher troughs and peaks - although it is noted that the low of this week was $0.01 below the previous trough and breaking that run.

NXT 13Nov2020

Contact

Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

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