After 1-Year Consolidation, NH Near New Highs – What's Next?
The stock was in a 1-year consolidation phase, struggling to break past a strong resistance zone. Throughout this phase, the 200 Exponential Moving Average (EMA) acted as a solid support level, with buying pressure emerging every time the price approached it.
During consolidation, low volume indicated accumulation, and a massive surge in volume was observed as the resistance level was breached, confirming institutional participation. The RSI coming out of range further strengthens the breakout confirmation; however, caution is needed as it is just below the overbought level.
A retest of the breakout zone would offer an ideal entry opportunity, provided there is follow-up buying to sustain momentum.
To manage risk effectively, a strict stop-loss should be placed below the previous resistance, which is now acting as support.
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
During consolidation, low volume indicated accumulation, and a massive surge in volume was observed as the resistance level was breached, confirming institutional participation. The RSI coming out of range further strengthens the breakout confirmation; however, caution is needed as it is just below the overbought level.
A retest of the breakout zone would offer an ideal entry opportunity, provided there is follow-up buying to sustain momentum.
To manage risk effectively, a strict stop-loss should be placed below the previous resistance, which is now acting as support.
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.