The NCC stock had previously peaked at around 100 levels in early February 2021. Since then, the stock was in a clear sideways/downward trend and had taken support multiple times at the 200 week SMA (currently near 74.5).
This week, NCC broke out of its range and closed at 88 levels. It also closed above the 2 recent resistance trendlines as shown in the chart (blue and red resistance TL). The stock is now in a clear up move and should head higher
Resistance/Target: The Feb 2021 high at 100 is the first clear resistance/target for this long trade. Once crossed, 2018 price levels of 110-130 will come into play. Any weekly close above 130 will lead to a big upside going forward.
Stop Loss: Maintain a WCB stop loss below 83
This week, NCC broke out of its range and closed at 88 levels. It also closed above the 2 recent resistance trendlines as shown in the chart (blue and red resistance TL). The stock is now in a clear up move and should head higher
Resistance/Target: The Feb 2021 high at 100 is the first clear resistance/target for this long trade. Once crossed, 2018 price levels of 110-130 will come into play. Any weekly close above 130 will lead to a big upside going forward.
Stop Loss: Maintain a WCB stop loss below 83