NHL PnF Chart Outlook.

This analysis is to complement the prior post in regards to the potential extend of the anticipated bullish move. I will only focus on the recent vertical count which is shown on the chart. Yes there are other counts also. This  (vertical count) represents the anticipated medium time horizon bullish objective rather than a longer time horizon where horizontal count/counts may be utilised.

Despite the close being at 4.5 cents, today’s price action behaviour also gave us a triple top PnF BUY signal which may also be worth noting. I must add that I do observe these PnF signals as complementary, no more. My entry and exits come from bar/candle charts not PnF.

Bullish Price Objective is at 10.8 cents. Close at or below 2.7 cents negates this count. Otherwise it stands.

Also, if we are to see a new 12 month high with NHL that may be seen as an invitation to further technical buying. Price is not far from a new 12 month high and worth keeping a close eye on that.

For some of our friends Santa did bring an early present with EVE. PnF count of EVE was almost spot on. Would NHL follow suit ?

Disclosure : NHL HELD.



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