NAK is ready for a move on the upside. It touched key levels of support and bounced back up after hitting the trend line.
Entry point: 1.48 Exit point: 1.97, if that key level of resistance is broken, hold until the next level of resistance is touched. Stop loss: If the price goes below 1.23, a trend reversal will be confirmed. Below that point, sell your position.
Details to consider:
- This stock is prone to manipulation and massive dumping, be ready to close your position in case the situation turns bearish. - It is wise to buy more shares once a breakout has been confirmed. - Do not average down on your position if you are at a loss. Cut your losses short and have a clear stop loss exit point. - The trend line has been consistent over the past months, so holding this stock for longer terms is possible. - Have well defined entry and exit points if you are going to day trade this stock. - It is a mining stock, meaning the exploration/drilling results will heavily influence future price action. Watch press releases very closely.