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The 30 minute chart is helpful. Someone big sure thought that 24.5 was close enough to the 50 dma to offer support.
Interesting taking a look at week chart. Looks like 24.50 is right at 10 wk line. What do you think of ascending base possibility? Would you be interested in playing as 10 week base bounce/support or ascending base or both?
I think since it ran 20% from the three weeks tight pattern in June, it needs a new base after that. The real question that I see right now is, does the July consolidation qualify as a High Tight Flag. My interpretation is no, because the examples that Bill has starting on page 131 seem to consolidate the HTF pattern higher in price than the low of the last big up week in the "Flagpole".
NSM undercut the low of the last big up week in the flagpole. So I expect a base here in NSM. The August top has Railroad track qualities (Pg 266 & 267 of HTMMIS), NSM is 10 weeks from a valid CAN SLIM buy point, the August launch from the 10 week line did not come with "Pocket Pivot" volume.
We will see.
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