NGAS: Weekly uptrend active
NGAS has pending upside yet to be tapped. Last week's advance gives us reason to buy dips against the 3.049 level, with stops at 2.898, or, we can use the daily chart to spot the turning point and buy dips (like I've been doing consistently for some time now). We can also buy a new high in the daily, risking simply a new daily low.
The dashed line above marks the main resistance zone from the long term decline that started on 2014. If NGAS breaks the resistance, it could rally towards $3.81, and possibly even higher, reaching the $4-5 handle.
Risk is very small on the long side right now, so don't miss out on the buy this week.
Good luck,
Ivan Labrie.
The dashed line above marks the main resistance zone from the long term decline that started on 2014. If NGAS breaks the resistance, it could rally towards $3.81, and possibly even higher, reaching the $4-5 handle.
Risk is very small on the long side right now, so don't miss out on the buy this week.
Good luck,
Ivan Labrie.
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