Sunday, 16 September 2007

NI: Rise of the Dead?

Just when I had given up NI for dead, it shows some bullishness in its consolidation.

As we can see in the chart, an ascending triangle has manifested itself onto the scene. Should this breakout of the pattern, a buy could be called above 12.50, where our resistance is. The target of the pattern is 16.25. I would initially put a cut loss at 11.00. Of course this becomes higher as the days go by and the triangle isn't broken.

We see on the MACD that it is still in a rally mode. Should this continue, we may see the fast line move above the zero line.

But a word of warning to the uninformed. Since this stock has low liquidity, you could be in for a Nihaosiao.

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