Let’s look at the technicals of this wild card from within XIJ. It had a completed Wyckoff Accumulation with a LPS ( Last Point of Support/Pullback/Potential Higher Trough).Patterns may and do fail at times, but having a LPS after a MSOS is expected in Wyckoff Method, at least in theory. That is what appears to have happened.
Now to the point of discussion/analysis. The stock analysed is NEA which yields a Tentative Bullish price Objective of 93 cents from the PnF Chart ( 2nd Chart). Lets see how close we may get to it over the weeks/months ahead ?
Disclosure : NEA Held.
Daily NEA Chart below.
PnF Chart below.
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