NHC Weekly Chart Outlook 25/11/2016.

A laggard coal miner may sum the price action behaviour of NHC in technical terms. It is a watchlist item for me at this stage, no more.

Encouraging rally of late which stalled at the price resistance/neckline is evident. Level of $1.50 is a prior mini breakout zone now acting as a support which may be tested in the short term. Red support line @ $1.39 is another level to watch. In short, two support levels if combined giving us a ZONE of SUPPORT of $1.40 – $ 1.50 (approx.). Resistance level of $2.10 is also worth watching going forward on the upside for any potential breakout.$1.20 level would be the last zone of support, should price action continue with it’s bearish behaviour.

I am stalking it at this stage for any potential short term bullish reversal which may occur on good volume.



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