NML has been in down trend for quite some time. Its price was below monthly bearish trend line.
On Daily time frame it has just crossed above the monthly bearish trend line (orange thick line). EMA 91 is just below its current price on Daily TF. RSI also going up. Only Klinger is facing downwards but it will change.
There are two scenarios:-
Scenario ONE- it will test the highlighted resistance zone and eventually go up;
Scenario TWO - it will drop back below monthly bearish trend line and will continue its bearish trend once again.
Therefore, for sure TP1 is achievable per below plan:-
NML
LONG (Buy) Trade Call
Entry (Buy): 71.50
SL (below Monthly Trend line): 69.80
TP1: 75.95
TP 2: 81.22
On Daily time frame it has just crossed above the monthly bearish trend line (orange thick line). EMA 91 is just below its current price on Daily TF. RSI also going up. Only Klinger is facing downwards but it will change.
There are two scenarios:-
Scenario ONE- it will test the highlighted resistance zone and eventually go up;
Scenario TWO - it will drop back below monthly bearish trend line and will continue its bearish trend once again.
Therefore, for sure TP1 is achievable per below plan:-
NML
LONG (Buy) Trade Call
Entry (Buy): 71.50
SL (below Monthly Trend line): 69.80
TP1: 75.95
TP 2: 81.22
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